Jump Financial LLC Has $1.62 Million Stock Holdings in CDW Corporation $CDW

Key Points

• Jump Financial LLC significantly reduced its stake in CDW Corporation by 89.4% during the first quarter, selling 84,587 shares and holding 10,081 shares worth $1,616,000 at the quarter’s end.
• CDW Corporation reported a quarterly earnings per share of $2.60, exceeding analyst expectations of $2.49, while revenue grew by 10.2% year-over-year.
• The company announced a quarterly dividend of $0.625 per share, reflecting a 1.5% yield and a dividend payout ratio of 31.06%.

Jump Financial LLC lowered its stake in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 89.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,081 shares of the information technology services provider's stock after selling 84,587 shares during the period. Jump Financial LLC's holdings in CDW were worth $1,616,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CDW by 29.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 3,116 shares of the information technology services provider's stock valued at $499,000 after buying an additional 716 shares during the period. AlphaQuest LLC lifted its stake in shares of CDW by 103.6% in the 1st quarter. AlphaQuest LLC now owns 7,383 shares of the information technology services provider's stock valued at $1,183,000 after purchasing an additional 3,756 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of CDW by 13.4% in the 1st quarter. Ameriprise Financial Inc. now owns 866,945 shares of the information technology services provider's stock valued at $138,938,000 after purchasing an additional 102,767 shares during the last quarter. Norinchukin Bank The lifted its stake in shares of CDW by 43.4% in the 1st quarter. Norinchukin Bank The now owns 10,563 shares of the information technology services provider's stock valued at $1,693,000 after purchasing an additional 3,199 shares during the last quarter. Finally, CW Advisors LLC lifted its stake in shares of CDW by 36.5% in the 1st quarter. CW Advisors LLC now owns 20,992 shares of the information technology services provider's stock valued at $3,367,000 after purchasing an additional 5,614 shares during the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

CDW Stock Performance

CDW traded down $3.89 during trading on Tuesday, hitting $160.88. The stock had a trading volume of 393,275 shares, compared to its average volume of 1,316,877. The company has a 50 day simple moving average of $173.25 and a 200-day simple moving average of $171.31. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $230.86. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28. The firm has a market cap of $21.08 billion, a PE ratio of 19.99, a P/E/G ratio of 2.74 and a beta of 0.98.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $5.51 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The business's revenue was up 10.2% compared to the same quarter last year. Analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th will be issued a dividend of $0.625 per share. The ex-dividend date is Monday, August 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.6%. CDW's payout ratio is presently 31.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CDW shares. Barclays reduced their price objective on shares of CDW from $205.00 to $176.00 and set an "equal weight" rating for the company in a research note on Thursday, August 7th. Citigroup lifted their price objective on shares of CDW from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Friday, July 11th. JPMorgan Chase & Co. lifted 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. Finally, UBS Group reduced their price objective on shares of CDW from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $202.00.

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.