Jefferies Financial Group Inc. Sells 18,348 Shares of CDW Corporation (NASDAQ:CDW)

Jefferies Financial Group Inc. lowered its stake in CDW Corporation (NASDAQ:CDW - Free Report) by 82.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,911 shares of the information technology services provider's stock after selling 18,348 shares during the period. Jefferies Financial Group Inc.'s holdings in CDW were worth $627,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. GW&K Investment Management LLC increased its position in CDW by 78.9% in the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after acquiring an additional 75 shares during the period. Orion Capital Management LLC acquired a new stake in CDW in the fourth quarter valued at $30,000. Bayforest Capital Ltd acquired a new stake in CDW in the first quarter valued at $31,000. Optiver Holding B.V. raised its position in CDW by 107.2% during the 4th quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after purchasing an additional 119 shares during the last quarter. Finally, Golden State Wealth Management LLC lifted its holdings in CDW by 237.2% during the 1st quarter. Golden State Wealth Management LLC now owns 263 shares of the information technology services provider's stock worth $42,000 after buying an additional 185 shares during the period. Institutional investors own 93.15% of the company's stock.

CDW Trading Up 0.6%

CDW stock traded up $1.04 during mid-day trading on Friday, reaching $162.92. The company's stock had a trading volume of 1,066,641 shares, compared to its average volume of 1,080,320. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $231.38. The company has a current ratio of 1.35, a quick ratio of 1.20 and a debt-to-equity ratio of 2.28. The business's 50 day moving average price is $176.17 and its 200 day moving average price is $174.81. The company has a market cap of $21.45 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.74 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.49 by $0.11. CDW had a net margin of 4.92% and a return on equity of 53.63%. The company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter in the prior year, the firm earned $2.50 EPS. The business's revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 25th will be issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Monday, August 25th. CDW's dividend payout ratio is currently 31.06%.

Insider Buying and Selling at CDW

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred 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 transaction, the insider owned 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.84% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CDW. Barclays decreased their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday. Citigroup increased their target price on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Friday, July 11th. UBS Group dropped their price target on shares of CDW from $210.00 to $200.00 and set a "buy" rating on the stock in a research report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of CDW from $185.00 to $205.00 and gave the company a "neutral" rating in a research note on Thursday, July 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, CDW has a consensus rating of "Hold" and a consensus target price of $202.00.

CDW Company 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.