Short Interest in CDW Co. (NASDAQ:CDW) Rises By 8.7%

CDW Co. (NASDAQ:CDW) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,880,000 shares, a growth of 8.7% from the December 15th total of 2,650,000 shares. Based on an average daily trading volume, of 1,320,000 shares, the days-to-cover ratio is presently 2.2 days. Approximately 2.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

CDW has been the subject of a number of recent research reports. Redburn Atlantic initiated coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 price target for the company. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Barclays cut their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Finally, Morgan Stanley lifted their price objective on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CDW. PDS Planning Inc lifted its stake in CDW by 4.3% in the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares in the last quarter. Profund Advisors LLC raised its holdings in shares of CDW by 0.5% in the second quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after acquiring an additional 58 shares during the last quarter. OneAscent Wealth Management LLC lifted its position in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after acquiring an additional 58 shares in the last quarter. Fulcrum Equity Management boosted its stake in shares of CDW by 4.3% during the third quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock valued at $326,000 after acquiring an additional 60 shares during the last quarter. Finally, WCM Investment Management LLC increased its position in CDW by 4.6% during the 3rd quarter. WCM Investment Management LLC now owns 1,380 shares of the information technology services provider’s stock worth $313,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company’s stock.

CDW Stock Performance

NASDAQ:CDW opened at $188.70 on Friday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a fifty-two week low of $168.43 and a fifty-two week high of $263.37. The firm’s fifty day simple moving average is $179.13 and its 200-day simple moving average is $205.27. The stock has a market cap of $25.15 billion, a PE ratio of 23.07, a price-to-earnings-growth ratio of 4.91 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the business posted $2.60 earnings per share. Analysts expect that CDW will post 8.99 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.32%. CDW’s dividend payout ratio is 30.56%.

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.