Jefferies Financial Group Inc. Acquires Shares of 22,259 CDW Co. (NASDAQ:CDW)

Jefferies Financial Group Inc. acquired a new stake in shares of CDW Co. (NASDAQ:CDW) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,259 shares of the information technology services provider’s stock, valued at approximately $3,874,000.

Other hedge funds also recently bought and sold shares of the company. Orion Capital Management LLC acquired a new position in shares of CDW in the 4th quarter valued at about $30,000. Allworth Financial LP increased its holdings in shares of CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares during the period. OFI Invest Asset Management acquired a new position in shares of CDW in the 4th quarter valued at about $32,000. Parkside Financial Bank & Trust increased its holdings in shares of CDW by 38.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock valued at $36,000 after purchasing an additional 58 shares during the period. Finally, Optiver Holding B.V. increased its holdings in shares of CDW by 107.2% in the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after purchasing an additional 119 shares during the period. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on CDW from $223.00 to $205.00 and set an “equal weight” rating on the stock in a report on Thursday, May 8th. Morgan Stanley upped their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. UBS Group dropped their price objective on CDW from $236.00 to $210.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Citigroup increased their price objective on CDW from $160.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. dropped their price objective on CDW from $222.00 to $175.00 and set a “neutral” rating on the stock in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $216.38.

CDW Trading Down 0.7%

NASDAQ:CDW opened at $182.16 on Tuesday. The company has a market capitalization of $23.99 billion, a P/E ratio of 22.86, a P/E/G ratio of 3.21 and a beta of 0.91. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The stock’s 50 day moving average price is $165.06 and its 200 day moving average price is $175.98. CDW Co. has a 52 week low of $137.31 and a 52 week high of $241.26.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that CDW Co. will post 9.41 EPS for the current fiscal year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, May 23rd. CDW’s dividend payout ratio is 30.98%.

CDW announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, insider Christine A. Leahy sold 40,917 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total value of $7,423,162.14. Following the sale, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This trade represents a 22.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frederick J. Kulevich sold 28,159 shares of the firm’s stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the sale, the insider now owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.