CDW Co. (NASDAQ:CDW) Sees Significant Increase in Short Interest

CDW Co. (NASDAQ:CDW) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 3,710,000 shares, an increase of 15.2% from the August 15th total of 3,220,000 shares. Currently, 2.8% of the company’s shares are sold short. Based on an average trading volume of 974,700 shares, the days-to-cover ratio is currently 3.8 days.

CDW Stock Up 0.8 %

Shares of CDW stock traded up $1.87 during trading hours on Tuesday, hitting $223.32. 556,313 shares of the company’s stock traded hands, compared to its average volume of 825,971. The company has a quick ratio of 1.02, a current ratio of 1.13 and a debt-to-equity ratio of 2.03. The stock’s fifty day simple moving average is $221.88 and its two-hundred day simple moving average is $230.47. CDW has a 12-month low of $185.04 and a 12-month high of $263.37. The stock has a market cap of $30.01 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 3.27 and a beta of 1.04.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.39 by ($0.05). CDW had a net margin of 5.29% and a return on equity of 62.22%. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same quarter in the previous year, the firm posted $2.43 EPS. The firm’s quarterly revenue was down 3.6% compared to the same quarter last year. On average, analysts expect that CDW will post 9.4 EPS for the current year.

CDW Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 1.11%. The ex-dividend date was Monday, August 26th. CDW’s dividend payout ratio is currently 30.96%.

Insider Transactions at CDW

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

Institutional Trading of CDW

A number of large investors have recently made changes to their positions in the stock. Tsfg LLC bought a new stake in shares of CDW in the first quarter worth $26,000. Rise Advisors LLC bought a new stake in shares of CDW during the 1st quarter valued at about $34,000. ORG Partners LLC purchased a new stake in shares of CDW during the 2nd quarter valued at about $34,000. Quest Partners LLC bought a new position in shares of CDW in the 2nd quarter worth approximately $35,000. Finally, Summit Securities Group LLC bought a new position in shares of CDW in the 2nd quarter worth approximately $40,000. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on CDW shares. Stifel Nicolaus raised their target price on shares of CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Barclays cut their price objective 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. Finally, Northcoast Research raised CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price for the company in a research report on Friday, June 7th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $254.63.

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.