CDW Corporation (NASDAQ:CDW) Sees Significant Drop in Short Interest

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

CDW Stock Down 0.4%

Shares of NASDAQ CDW traded down $0.54 during midday trading on Friday, hitting $131.75. The stock had a trading volume of 1,495,496 shares, compared to its average volume of 1,764,753. The business’s 50 day moving average is $140.43 and its 200-day moving average is $156.35. CDW has a 52 week low of $126.93 and a 52 week high of $222.92. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21. The company has a market cap of $17.15 billion, a P/E ratio of 16.64, a PEG ratio of 1.72 and a beta of 1.08.

CDW (NASDAQ:CDW) last posted its earnings results on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.09. CDW had a net margin of 4.76% and a return on equity of 51.89%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. As a group, analysts predict that CDW will post 9.41 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were given a $0.63 dividend. The ex-dividend date was Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. CDW’s dividend payout ratio (DPR) is currently 31.82%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Raymond James Financial upgraded CDW from an “outperform” rating to a “strong-buy” rating and set a $185.00 price target on the stock in a research report on Tuesday, November 25th. Weiss Ratings restated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. UBS Group lowered their price target on shares of CDW from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Morgan Stanley cut their price target on shares of CDW from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Finally, Evercore ISI lowered their price objective 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. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $186.43.

Insider Transactions at CDW

In other CDW news, insider Sona Chawla sold 7,400 shares of the 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 sale, the insider owned 28,110 shares in the company, valued at $4,108,838.70. This represents a 20.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.84% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CDW

Institutional investors have recently bought and sold shares of the business. Root Financial Partners LLC bought a new stake in CDW in the third quarter worth $26,000. Quent Capital LLC purchased a new position in shares of CDW in the 3rd quarter worth $57,000. Covestor Ltd increased its holdings in shares of CDW by 87.9% in the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares during the last quarter. Steph & Co. raised its position in shares of CDW by 917.6% during the 2nd quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock valued at $124,000 after buying an additional 624 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of CDW by 52.6% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the information technology services provider’s stock valued at $146,000 after acquiring an additional 281 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.

About CDW

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.