CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 3,710,000 shares, an increase of 15.2% from the August 15th total of 3,220,000 shares. Based on an average trading volume of 974,700 shares, the days-to-cover ratio is currently 3.8 days. Approximately 2.8% of the shares of the company are sold short.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Barclays cut their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 price objective for the company in a research report on Friday, June 7th. Finally, Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, CDW currently has an average rating of “Moderate Buy” and a consensus target price of $254.63.

Insider Activity at CDW

In other news, insider Christine A. Leahy acquired 1,200 shares of CDW stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other CDW news, insider Christine A. Leahy acquired 1,200 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average price of $216.15 per share, with a total value of $259,380.00. Following the completion of the purchase, the insider now directly owns 102,200 shares in the company, valued at approximately $22,090,530. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Sona Chawla sold 18,437 shares of CDW stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total value of $4,433,176.65. Following the sale, the insider now directly owns 22,428 shares in the company, valued at approximately $5,392,812.60. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CDW

Several hedge funds have recently added to or reduced their stakes in CDW. Tsfg LLC bought a new position in CDW in the 1st quarter valued at $26,000. Rise Advisors LLC purchased a new stake in shares of CDW during the first quarter valued at $34,000. Quest Partners LLC bought a new position in shares of CDW in the second quarter worth about $35,000. ORG Partners LLC purchased a new position in CDW in the 2nd quarter worth about $34,000. Finally, Summit Securities Group LLC bought a new stake in CDW during the 2nd quarter valued at about $40,000. 93.15% of the stock is currently owned by institutional investors.

CDW Trading Up 0.8 %

CDW traded up $1.87 on Tuesday, hitting $223.32. The company had a trading volume of 556,313 shares, compared to its average volume of 825,971. The business’s fifty day simple moving average is $221.88 and its 200 day simple moving average is $230.47. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW has a 12-month low of $185.04 and a 12-month high of $263.37. The company has a market cap of $30.01 billion, a PE ratio of 27.70, a PEG ratio of 3.27 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 EPS for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. CDW had a return on equity of 62.22% and a net margin of 5.29%. CDW’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.43 EPS. Equities research analysts expect that CDW will post 9.4 EPS for the current year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th were issued a $0.62 dividend. The ex-dividend date of this dividend was Monday, August 26th. This represents a $2.48 annualized dividend and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is presently 30.96%.

CDW Company 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.