Jump Financial LLC lifted its position in CDW Co. (NASDAQ:CDW - Free Report) by 2,521.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 94,668 shares of the information technology services provider's stock after purchasing an additional 91,057 shares during the quarter. Jump Financial LLC owned 0.07% of CDW worth $16,476,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Allworth Financial LP lifted its holdings in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management bought a new position in CDW during the fourth quarter worth about $32,000. Parkside Financial Bank & Trust grew its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after buying an additional 58 shares during the period. Canoe Financial LP raised its stake in shares of CDW by 68.3% in the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock valued at $48,000 after purchasing an additional 112 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in CDW in the 4th quarter valued at approximately $66,000. Institutional investors and hedge funds own 93.15% of the company's stock.
CDW Stock Performance
CDW stock traded up $2.70 during midday trading on Friday, reaching $151.47. 1,166,889 shares of the company's stock were exchanged, compared to its average volume of 1,170,152. The stock's 50-day simple moving average is $167.67 and its 200 day simple moving average is $183.44. The firm has a market cap of $19.96 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 3.21 and a beta of 0.97. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. CDW Co. has a 52 week low of $137.31 and a 52 week high of $248.12.
CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a net margin of 5.13% and a return on equity of 55.42%. On average, analysts expect that CDW Co. will post 9.41 earnings per share for the current fiscal year.
CDW Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.
CDW announced that its Board of Directors has authorized a stock repurchase program 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 buy up to 2.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on CDW shares. Barclays raised their price target on shares of CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. decreased their target price on shares of CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a research report on Thursday. Morgan Stanley boosted their price target on shares of CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 6th. UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Citigroup dropped their target price on CDW from $220.00 to $160.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, CDW presently has an average rating of "Moderate Buy" and a consensus price target of $217.38.
View Our Latest Stock Analysis on CDW
CDW Company Profile
(
Free Report)
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.
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