Short Interest in CDW Co. (NASDAQ:CDW) Expands By 14.3%

CDW Co. (NASDAQ:CDW) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,030,000 shares, an increase of 14.3% from the March 15th total of 2,650,000 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 696,800 shares, the days-to-cover ratio is currently 4.3 days.

CDW Trading Down 0.6 %

CDW stock traded down $1.37 during midday trading on Tuesday, reaching $240.01. 651,700 shares of the company traded hands, compared to its average volume of 706,331. The firm has a market capitalization of $32.25 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 2.75 and a beta of 1.09. CDW has a 52-week low of $160.66 and a 52-week high of $263.37. The business has a 50 day moving average of $247.59 and a 200-day moving average of $226.92. The company has a debt-to-equity ratio of 2.46, a quick ratio of 1.11 and a current ratio of 1.23.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. The company had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5.32 billion. CDW had a return on equity of 73.93% and a net margin of 5.17%. CDW’s quarterly revenue was down 7.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.40 EPS. As a group, sell-side analysts expect that CDW will post 9.88 earnings per share for the current fiscal year.

CDW announced that its board has authorized a share repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Friday, February 23rd. CDW’s dividend payout ratio (DPR) is currently 30.62%.

Institutional Trading of CDW

Several institutional investors and hedge funds have recently made changes to their positions in the business. Tsfg LLC purchased a new position in CDW during the 1st quarter valued at about $26,000. OFI Invest Asset Management bought a new position in CDW in the third quarter worth about $25,000. Rise Advisors LLC purchased a new stake in shares of CDW during the first quarter valued at about $34,000. Larson Financial Group LLC bought a new stake in shares of CDW in the 4th quarter valued at about $30,000. Finally, VisionPoint Advisory Group LLC purchased a new position in shares of CDW in the 3rd quarter worth approximately $28,000. 93.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CDW. Citigroup raised their target price on shares of CDW from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised their price objective on shares of CDW from $267.00 to $280.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Barclays increased their price target on shares of CDW from $219.00 to $261.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Finally, Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday, March 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, CDW has an average rating of “Moderate Buy” and a consensus price target of $238.90.

CDW Company Profile

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.