CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW - Get Free Report) was the target of a significant decrease in short interest during the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, a decrease of 12.3% from the January 31st total of 3,180,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is presently 2.1 days. Currently, 2.1% of the shares of the company are short sold.

Institutional Investors Weigh In On CDW

Large investors have recently added to or reduced their stakes in the business. Orion Capital Management LLC purchased a new position in CDW in the 4th quarter valued at about $30,000. Allworth Financial LP raised its position in shares of CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after buying an additional 52 shares during the last quarter. OFI Invest Asset Management purchased a new position in shares of CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust lifted its stake in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after buying an additional 58 shares during the period. Finally, Optiver Holding B.V. boosted its position in CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock worth $40,000 after acquiring an additional 119 shares during the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

CDW traded up $1.11 on Friday, hitting $168.37. 2,348,878 shares of the company were exchanged, compared to its average volume of 1,385,177. The company has a debt-to-equity ratio of 2.38, a quick ratio of 1.24 and a current ratio of 1.35. The business's fifty day moving average is $186.22 and its 200 day moving average is $197.19. CDW has a fifty-two week low of $164.98 and a fifty-two week high of $263.37. The firm has a market capitalization of $22.31 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

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CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, topping analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. As a group, sell-side analysts anticipate that CDW will post 9.41 EPS for the current year.

CDW Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th will be given a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, February 25th. CDW's dividend payout ratio is currently 31.37%.

CDW announced that its board has approved a stock repurchase program on Wednesday, February 5th that allows the company to repurchase $750.00 million in outstanding 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 programs are generally a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

CDW has been the topic of several recent research reports. Barclays boosted their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research note on Thursday, February 6th. Redburn Atlantic began coverage on shares of CDW in a research note on Friday, November 15th. They set a "buy" rating and a $230.00 price target on the stock. UBS Group cut their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $242.67.

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.