Jefferies Financial Group Inc. Purchases New Position in CDW Co. (NASDAQ:CDW)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CDW. Vanguard Group Inc. boosted its position in shares of CDW by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 16,673,784 shares of the information technology services provider's stock worth $2,901,905,000 after purchasing an additional 99,947 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of CDW by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 3,535,405 shares of the information technology services provider's stock worth $614,220,000 after purchasing an additional 54,341 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of CDW by 29.2% during the fourth quarter. Wellington Management Group LLP now owns 2,538,775 shares of the information technology services provider's stock worth $441,848,000 after purchasing an additional 574,444 shares in the last quarter. Invesco Ltd. boosted its position in shares of CDW by 27.6% during the fourth quarter. Invesco Ltd. now owns 2,426,746 shares of the information technology services provider's stock worth $422,351,000 after purchasing an additional 524,559 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in CDW by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,414,093 shares of the information technology services provider's stock valued at $420,149,000 after acquiring an additional 575,333 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Insider Transactions at CDW

In other news, insider Frederick J. Kulevich sold 28,159 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the transaction, the insider now directly owns 36,077 shares in the company, valued at $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. 0.84% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

CDW has been the topic of several research reports. Citigroup boosted their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Morgan Stanley boosted their price objective on shares of CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. UBS Group cut their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Barclays cut their price objective on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. cut their price objective on shares of CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $216.38.

CDW Stock Down 1.4%

CDW stock traded down $2.55 during midday trading on Friday, hitting $179.80. The company's stock had a trading volume of 1,046,284 shares, compared to its average volume of 1,219,142. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The company's fifty day moving average price is $166.24 and its 200 day moving average price is $175.83. The stock has a market capitalization of $23.68 billion, a P/E ratio of 22.56, a PEG ratio of 3.21 and a beta of 0.91.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company's revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.92 EPS. As a group, equities research analysts predict that CDW Co. will post 9.41 EPS for the current year.

CDW declared that its Board of Directors has approved a share buyback plan 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 reacquire up to 2.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its shares are undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th will be paid a dividend of $0.625 per share. The ex-dividend date is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.39%. CDW's dividend payout ratio is presently 30.98%.

About CDW

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.