CDW Corporation (NASDAQ:CDW) Short Interest Update

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

CDW Stock Down 3.4%

Shares of CDW traded down $4.47 on Tuesday, hitting $127.29. 463,248 shares of the stock traded hands, compared to its average volume of 1,350,084. The company has a market capitalization of $16.57 billion, a PE ratio of 16.06, a P/E/G ratio of 1.72 and a beta of 1.08. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.30 and a current ratio of 1.39. The business has a 50 day simple moving average of $140.20 and a 200 day simple moving average of $155.81. CDW has a one year low of $126.00 and a one year high of $222.92.

CDW (NASDAQ:CDW) last released its quarterly earnings data 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 business had revenue of $5.74 billion for the quarter, compared to analysts’ expectations of $5.75 billion. CDW had a return on equity of 51.89% and a net margin of 4.76%. As a group, equities analysts forecast that CDW will post 9.41 earnings per share for the current fiscal year.

CDW Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.0%. The ex-dividend date was Tuesday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.63. CDW’s dividend payout ratio is 31.82%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CDW. Morgan Stanley cut CDW from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $177.00 to $141.00 in a research note on Tuesday. Barclays reduced their price objective on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of CDW in a research report on Tuesday. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a research report on Thursday, October 30th. Finally, UBS Group lowered their price objective 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. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, CDW has a consensus rating of “Moderate Buy” and an average target price of $178.43.

Insider Activity

In related news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 28,110 shares in the company, valued at $4,108,838.70. The trade was a 20.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.90% of the stock is owned by insiders.

Institutional Trading of CDW

Institutional investors have recently made changes to their positions in the stock. Marshall Wace LLP lifted its position in CDW by 255.7% during the third quarter. Marshall Wace LLP now owns 599,248 shares of the information technology services provider’s stock valued at $95,448,000 after purchasing an additional 430,796 shares during the period. SG Americas Securities LLC raised its stake in CDW by 1,622.9% during 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 buying an additional 190,500 shares during the last quarter. Border to Coast Pensions Partnership Ltd bought a new position in shares of CDW during the 3rd quarter valued at $29,649,000. Danske Bank A S purchased a new position in shares of CDW in the 3rd quarter worth $13,347,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of CDW by 1,339.7% in the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider’s stock worth $8,819,000 after buying an additional 45,950 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.