CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW) was the recipient of a large increase in short interest in 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 short-interest ratio is currently 3.8 days.

Insider Transactions at CDW

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

Institutional Inflows and Outflows

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of CDW from $232.00 to $229.00 and set an “equal weight” rating on the stock in a report on Thursday, August 1st. Stifel Nicolaus boosted their price objective on CDW from $250.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Finally, Northcoast Research upgraded CDW from a “neutral” rating to a “buy” rating and set a $270.00 target price on the stock in a report on Friday, June 7th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $254.63.

CDW Stock Performance

Shares of NASDAQ CDW traded up $1.87 during midday trading on Tuesday, reaching $223.32. The company’s stock had a trading volume of 556,323 shares, compared to its average volume of 825,971. The company has a debt-to-equity ratio of 2.03, a current ratio of 1.13 and a quick ratio of 1.02. The stock has a market capitalization of $30.01 billion, a P/E ratio of 27.70, a PEG ratio of 3.27 and a beta of 1.04. The firm has a 50 day moving average price of $221.88 and a 200-day moving average price of $230.47. CDW has a 12-month low of $185.04 and a 12-month high of $263.37.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share for the quarter, missing the consensus estimate of $2.39 by ($0.05). CDW had a return on equity of 62.22% and a net margin of 5.29%. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the firm posted $2.43 EPS. The firm’s revenue for the quarter was down 3.6% on a year-over-year basis. As a group, equities analysts predict that CDW will post 9.4 earnings per share for the current year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 26th were given a $0.62 dividend. 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 30.96%.

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.