CDW Corporation (NASDAQ:CDW) Short Interest Update

CDW Corporation (NASDAQ:CDW) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 3,997,350 shares, a drop of 21.9% from the December 15th total of 5,119,976 shares. Approximately 3.1% of the company’s stock are short sold. Based on an average daily trading volume, of 2,395,132 shares, the days-to-cover ratio is presently 1.7 days. Based on an average daily trading volume, of 2,395,132 shares, the days-to-cover ratio is presently 1.7 days. Approximately 3.1% of the company’s stock are short sold.

Insider Buying and Selling

In related news, insider Sona Chawla sold 7,400 shares of the company’s stock in a transaction on Monday, December 8th. The stock was sold at an average price of $146.17, for a total transaction of $1,081,658.00. Following the completion of the sale, the insider directly owned 28,110 shares in the company, valued at $4,108,838.70. This represents a 20.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On CDW

Institutional investors have recently bought and sold shares of the business. Fenimore Asset Management Inc grew its position in CDW by 0.4% during the third quarter. Fenimore Asset Management Inc now owns 1,141,082 shares of the information technology services provider’s stock valued at $181,752,000 after buying an additional 4,659 shares during the period. Marshall Wace LLP boosted its stake in shares of CDW by 255.7% during the 3rd quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock worth $95,448,000 after acquiring an additional 430,796 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of CDW by 0.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 365,345 shares of the information technology services provider’s stock valued at $58,192,000 after acquiring an additional 1,793 shares during the period. California State Teachers Retirement System increased its stake in shares of CDW by 0.6% in the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider’s stock valued at $40,309,000 after purchasing an additional 1,242 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of CDW by 1,622.9% in the 2nd quarter. SG Americas Securities LLC now owns 202,238 shares of the information technology services provider’s stock valued at $36,118,000 after purchasing an additional 190,500 shares in the last quarter. 93.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on CDW shares. Raymond James Financial raised shares of CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price objective on the stock in a research report on Tuesday, November 25th. Evercore ISI lowered their target price on shares of CDW from $215.00 to $200.00 and set an “outperform” rating for the company in a research note on Monday, October 20th. UBS Group reduced their price target on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Barclays decreased their price objective on CDW from $176.00 to $148.00 and set an “equal weight” rating for the company in a report on Wednesday, November 5th. Finally, Morgan Stanley dropped their target price on CDW from $191.00 to $177.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.43.

CDW Stock Performance

Shares of NASDAQ CDW traded down $0.54 during midday trading on Friday, reaching $131.75. The company had a trading volume of 1,495,496 shares, compared to its average volume of 1,764,753. CDW has a 1 year low of $126.93 and a 1 year high of $222.92. The business’s 50-day simple moving average is $140.43 and its 200 day simple moving average is $156.35. The company has a current ratio of 1.39, a quick ratio of 1.30 and a debt-to-equity ratio of 2.21. The stock has a market cap of $17.15 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.72 and a beta of 1.08.

CDW (NASDAQ:CDW) last released its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.09. The firm had revenue of $5.74 billion for the quarter, compared to the consensus estimate of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. On average, analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.9%. This is a positive change from CDW’s previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Tuesday, November 25th. CDW’s dividend payout ratio is presently 31.82%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.