CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW - Get Free Report) was the recipient of a significant increase in short interest in the month of November. As of November 30th, there was short interest totalling 2,650,000 shares, an increase of 8.2% from the November 15th total of 2,450,000 shares. Based on an average daily trading volume, of 1,150,000 shares, the short-interest ratio is currently 2.3 days. Currently, 2.0% of the company's stock are short sold.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp grew its position in CDW by 1.1% during the 3rd quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider's stock worth $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC grew its holdings in CDW by 0.9% during the third quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider's stock worth $785,635,000 after acquiring an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA purchased a new position in CDW during the third quarter valued at approximately $416,111,000. Janus Henderson Group PLC lifted its holdings in CDW by 7,029.1% in the third quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider's stock valued at $331,891,000 after acquiring an additional 1,446,025 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in CDW by 11.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider's stock worth $289,357,000 after purchasing an additional 128,263 shares in the last quarter. Institutional investors and hedge funds own 93.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Citigroup cut shares of CDW from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. lowered CDW from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays dropped their target price on CDW from $229.00 to $201.00 and set an "equal weight" rating on the stock in a research report on Thursday, October 31st. Morgan Stanley boosted their price target on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, Redburn Atlantic assumed coverage on CDW in a research report on Friday, November 15th. They set a "buy" rating and a $230.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus price target of $241.75.

CDW Stock Up 1.0 %

NASDAQ CDW traded up $1.73 during trading on Monday, hitting $177.79. The company's stock had a trading volume of 1,197,129 shares, compared to its average volume of 925,801. CDW has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. The company has a market cap of $23.69 billion, a PE ratio of 21.73, a P/E/G ratio of 5.01 and a beta of 1.02. The business's 50 day simple moving average is $195.27 and its 200-day simple moving average is $213.06.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly 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 for the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The company's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.60 EPS. On average, equities analysts anticipate that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were issued a $0.625 dividend. The ex-dividend date of this dividend was Monday, November 25th. This is a positive change from CDW's previous quarterly dividend of $0.62. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.41%. CDW's dividend payout ratio is currently 30.56%.

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.