CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW - Get Free Report) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,460,000 shares, a growth of 24.0% from the February 13th total of 2,790,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 2.6 days. Currently, 2.6% of the shares of the company are short sold.

Institutional Trading of CDW

Several large investors have recently modified their holdings of CDW. Orion Capital Management LLC bought a new stake in CDW during the fourth quarter worth about $30,000. Allworth Financial LP raised its position in shares of CDW by 39.7% in the 4th 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 in the last quarter. OFI Invest Asset Management bought a new stake in shares of CDW during the 4th quarter worth approximately $32,000. Parkside Financial Bank & Trust boosted its position in shares of CDW by 38.9% during the 4th quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock worth $36,000 after acquiring an additional 58 shares in the last quarter. Finally, Optiver Holding B.V. increased its stake in CDW by 107.2% in the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider's stock valued at $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 Stock Performance

Shares of CDW traded down $2.52 during midday trading on Friday, reaching $165.57. 2,060,916 shares of the stock were exchanged, compared to its average volume of 1,037,161. The stock's 50 day simple moving average is $184.75 and its 200 day simple moving average is $193.78. The company has a market cap of $21.94 billion, a P/E ratio of 20.77, a PEG ratio of 3.21 and a beta of 1.01. CDW has a twelve month low of $162.84 and a twelve month high of $263.37. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

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

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were issued a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.51%. CDW's dividend payout ratio is presently 31.37%.

CDW announced that its board has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in shares. This buyback authorization authorizes the information technology services provider to repurchase up to 2.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Barclays boosted their target price on CDW from $201.00 to $223.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Finally, Morgan Stanley raised their price target on CDW from $193.00 to $201.00 and gave the company an "equal weight" rating in a report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and a consensus target price 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.