Jump Financial LLC Trims Stake in CDW Co. (NASDAQ:CDW)

Jump Financial LLC reduced its stake in shares of CDW Co. (NASDAQ:CDW - Free Report) by 64.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,037 shares of the information technology services provider's stock after selling 7,357 shares during the period. Jump Financial LLC's holdings in CDW were worth $918,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. VisionPoint Advisory Group LLC purchased a new stake in shares of CDW during the 3rd quarter valued at approximately $28,000. Larson Financial Group LLC purchased a new stake in shares of CDW during the 4th quarter valued at approximately $30,000. Orion Capital Management LLC purchased a new stake in shares of CDW during the 3rd quarter valued at approximately $35,000. ORG Partners LLC purchased a new stake in shares of CDW during the 4th quarter valued at approximately $36,000. Finally, Oakworth Capital Inc. purchased a new stake in shares of CDW during the 4th quarter valued at approximately $36,000. 93.15% of the stock is owned by institutional investors.

CDW Price Performance

Shares of NASDAQ:CDW traded down $0.50 during trading on Friday, reaching $223.64. The company had a trading volume of 1,299,254 shares, compared to its average volume of 760,786. The company has a fifty day moving average of $240.85 and a two-hundred day moving average of $231.07. The stock has a market capitalization of $30.06 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 3.29 and a beta of 1.09. CDW Co. has a 12 month low of $167.57 and a 12 month high of $263.37. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 2.35.

CDW declared that its board has approved a stock buyback plan on Wednesday, February 7th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 11th. Stockholders of record on Friday, May 24th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 23rd. CDW's payout ratio is 30.96%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CDW. Stifel Nicolaus lowered their target price on shares of CDW from $265.00 to $250.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Evercore ISI increased their target price on shares of CDW from $250.00 to $300.00 and gave the stock an "outperform" rating in a research note on Friday, March 22nd. Barclays lowered their target price on shares of CDW from $261.00 to $232.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Citigroup lowered their target price on shares of CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on shares of CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research note on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, CDW has an average rating of "Moderate Buy" and a consensus target price of $247.50.

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.