CDW Co. (NASDAQ:CDW) Short Interest Update

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

Hedge Funds Weigh In On CDW

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Canoe Financial LP acquired a new stake in CDW in the third quarter valued at approximately $37,000. Fortitude Family Office LLC increased its position in shares of CDW by 350.0% in the 3rd quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of CDW in the 3rd quarter valued at $43,000. Covestor Ltd lifted its position in shares of CDW by 80.1% during the 3rd quarter. Covestor Ltd now owns 245 shares of the information technology services provider’s stock worth $55,000 after purchasing an additional 109 shares during the last quarter. Finally, Kimelman & Baird LLC acquired a new position in shares of CDW during the second quarter worth $56,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

CDW Stock Up 0.5 %

Shares of CDW opened at $188.70 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. The stock has a market capitalization of $25.15 billion, a PE ratio of 23.07, a P/E/G ratio of 4.91 and a beta of 1.01. The company’s 50-day simple moving average is $179.13 and its 200-day simple moving average is $205.27. CDW has a 1 year low of $168.43 and a 1 year high of $263.37.

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

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were given a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 dividend on an annualized basis and a yield of 1.32%. This is a positive change from CDW’s previous quarterly dividend of $0.62. CDW’s dividend payout ratio (DPR) is currently 30.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CDW shares. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Morgan Stanley lifted their target price on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a research report on Monday, December 16th. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Redburn Atlantic initiated coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price objective on the stock. Finally, Citigroup lowered shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $239.33.

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.