CDW Co. (NASDAQ:CDW) Short Interest Down 15.7% in August

CDW Co. (NASDAQ:CDW - Get Free Report) was the recipient of a significant decline in short interest in August. As of August 15th, there was short interest totalling 3,220,000 shares, a decline of 15.7% from the July 31st total of 3,820,000 shares. Based on an average daily trading volume, of 982,700 shares, the days-to-cover ratio is presently 3.3 days. Approximately 2.4% of the shares of the stock are short sold.

CDW Trading Up 1.1 %

CDW stock traded up $2.52 during trading on Friday, hitting $225.64. The company had a trading volume of 1,437,076 shares, compared to its average volume of 836,880. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $222.76 and a 200-day moving average price of $232.59. CDW has a 12 month low of $185.04 and a 12 month high of $263.37. The stock has a market cap of $30.33 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 3.17 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. CDW's quarterly revenue was down 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.43 EPS. As a group, analysts predict that CDW will post 9.6 earnings per share for the current year.

CDW Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Monday, August 26th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.10%. CDW's payout ratio is 30.96%.

Insider Activity at CDW

In other news, insider Sona Chawla sold 18,437 shares of the business's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares of the company's stock, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of the company's stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total value of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average cost of $216.15 per share, with a total value of $259,380.00. Following the transaction, the insider now owns 102,200 shares of the company's stock, valued at approximately $22,090,530. The disclosure for this purchase can be found here. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On CDW

Institutional investors and hedge funds have recently modified their holdings of the company. Aaron Wealth Advisors LLC boosted its position in CDW by 2.8% in the first quarter. Aaron Wealth Advisors LLC now owns 1,540 shares of the information technology services provider's stock valued at $394,000 after buying an additional 42 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of CDW by 5.9% during the first quarter. Massmutual Trust Co. FSB ADV now owns 767 shares of the information technology services provider's stock worth $196,000 after acquiring an additional 43 shares in the last quarter. RDA Financial Network grew its position in CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider's stock worth $355,000 after purchasing an additional 46 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in CDW by 1.4% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,446 shares of the information technology services provider's stock worth $881,000 after purchasing an additional 47 shares in the last quarter. Finally, Prestige Wealth Management Group LLC grew its position in CDW by 6.4% in the 4th quarter. Prestige Wealth Management Group LLC now owns 811 shares of the information technology services provider's stock worth $184,000 after purchasing an additional 49 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays lowered their target price on CDW from $232.00 to $229.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 1st. Northcoast Research upgraded CDW from a "neutral" rating to a "buy" rating and set a $270.00 target price for the company in a report on Friday, June 7th. Finally, Stifel Nicolaus increased their target price on CDW from $250.00 to $260.00 and gave the company a "buy" rating in a report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $254.63.

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.

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