Jefferies Financial Group Inc. Makes New Investment in CDW Co. (NASDAQ:CDW)

Jefferies Financial Group Inc. purchased a new position in shares of CDW Co. (NASDAQ:CDW) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 22,259 shares of the information technology services provider’s stock, valued at approximately $3,874,000.

A number of other institutional investors have also recently bought and sold shares of the business. D. E. Shaw & Co. Inc. lifted its holdings in shares of CDW by 906.9% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider’s stock valued at $352,411,000 after acquiring an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. lifted its holdings in shares of CDW by 17,349.6% during the fourth quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider’s stock valued at $240,312,000 after acquiring an additional 1,372,874 shares during the period. Norges Bank bought a new position in shares of CDW during the fourth quarter valued at $144,826,000. Madison Investment Advisors LLC bought a new position in shares of CDW during the fourth quarter valued at $130,996,000. Finally, Proficio Capital Partners LLC lifted its holdings in shares of CDW by 18,259.3% during the fourth quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider’s stock valued at $119,598,000 after acquiring an additional 683,446 shares during the period. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

Shares of NASDAQ:CDW opened at $182.16 on Tuesday. The stock 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. CDW Co. has a 1-year low of $137.31 and a 1-year high of $241.26. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. The business has a 50-day moving average price of $165.06 and a two-hundred day moving average price of $175.98.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.19. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $4.93 billion. CDW had a return on equity of 55.42% and a net margin of 5.13%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.92 EPS. Equities analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 5th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are generally a sign 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. Shareholders of record on Monday, May 26th will be issued a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a yield of 1.37%. CDW’s dividend payout ratio is currently 30.98%.

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 stock was sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business’s stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $181.42, for a total value of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares of the company’s stock, valued at $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

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

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.