CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW) saw a significant growth in short interest in 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 trading volume, of 1,330,000 shares, the short-interest ratio is currently 2.6 days. Approximately 2.6% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CDW. Morgan Stanley boosted their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a report on Thursday, February 6th. UBS Group lowered their price objective on shares of CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays increased their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and an average target price of $242.67.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CDW. Orion Capital Management LLC bought a new stake in shares of CDW during the fourth quarter valued at approximately $30,000. Allworth Financial LP grew its position in shares of CDW by 39.7% during the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after purchasing an additional 52 shares in the last quarter. OFI Invest Asset Management purchased a new stake in shares of CDW in the fourth quarter worth about $32,000. Parkside Financial Bank & Trust increased its stake in CDW by 38.9% in 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 during the last quarter. Finally, Optiver Holding B.V. grew its holdings in shares of 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 purchasing an additional 119 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

CDW Stock Up 1.1 %

CDW stock opened at $168.80 on Monday. CDW has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a fifty day simple moving average of $185.56 and a two-hundred day simple moving average of $194.86. The firm has a market cap of $22.37 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 3.21 and a beta of 1.01. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 EPS for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. Equities analysts predict that CDW will post 9.41 EPS for the current fiscal year.

CDW Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a $0.625 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $2.50 annualized dividend and a dividend yield of 1.48%. CDW’s dividend payout ratio (DPR) is 31.37%.

CDW declared that its board has authorized a share buyback plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.