CDW Co. (NASDAQ:CDW) Sees Significant Increase in Short Interest

CDW Co. (NASDAQ:CDW - Get Free Report) 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. Approximately 2.2% of the company's stock are sold short. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is presently 2.2 days.

Institutional Trading of CDW

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Canoe Financial LP acquired a new stake in CDW during the 3rd quarter worth approximately $37,000. Fortitude Family Office LLC raised its stake in shares of CDW by 350.0% during the third quarter. Fortitude Family Office LLC now owns 171 shares of the information technology services provider's stock valued at $39,000 after acquiring an additional 133 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of CDW during the third quarter worth $43,000. Covestor Ltd grew its stake in shares of CDW by 80.1% in the third 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 stake in CDW in the second quarter valued at $56,000. Institutional investors own 93.15% of the company's stock.

CDW Price Performance

Shares of CDW stock traded up $0.91 during trading hours on Monday, reaching $188.70. The company's stock had a trading volume of 963,441 shares, compared to its average volume of 1,002,276. 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 company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 4.91 and a beta of 1.01. The firm's 50 day simple moving average is $179.13 and its 200-day simple moving average is $205.18.

CDW (NASDAQ:CDW - Get Free Report) last released 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 business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. The business's revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.60 EPS. Sell-side analysts forecast that CDW will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were paid a $0.625 dividend. This is an increase 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 presently 30.56%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays reduced their price objective on shares of CDW from $229.00 to $201.00 and set an "equal weight" rating for the company in a research report on Thursday, October 31st. Citigroup downgraded shares of CDW from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $250.00 to $245.00 in a report on Tuesday, October 1st. UBS Group lowered their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Redburn Atlantic started coverage on CDW in a research report on Friday, November 15th. They issued a "buy" rating and a $230.00 target price on the stock. Finally, Morgan Stanley lifted their price target on CDW from $190.00 to $193.00 and gave the stock an "equal weight" rating in a report on Monday, December 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, CDW currently has an average rating of "Moderate Buy" and a consensus 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.