CDW Co. (NASDAQ:CDW) Short Interest Up 8.2% in November

CDW Co. (NASDAQ:CDW) was the target of a large increase in short interest in November. As of November 30th, there was short interest totalling 2,650,000 shares, an increase of 8.2% from the November 15th total of 2,450,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 1,150,000 shares, the short-interest ratio is currently 2.3 days.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CDW. Morgan Stanley upped their target price on shares of CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday. JPMorgan Chase & Co. downgraded shares of CDW from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target for the company. Finally, Barclays decreased their price objective on CDW from $229.00 to $201.00 and set an “equal weight” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $241.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp raised its stake in shares of CDW by 1.1% during the third quarter. State Street Corp now owns 5,719,348 shares of the information technology services provider’s stock valued at $1,294,288,000 after purchasing an additional 64,702 shares during the period. Geode Capital Management LLC increased its stake in CDW by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 3,481,064 shares of the information technology services provider’s stock worth $785,635,000 after buying an additional 31,858 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in CDW in the 3rd quarter worth $416,111,000. Janus Henderson Group PLC boosted its position in CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock valued at $331,891,000 after buying an additional 1,446,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of CDW by 11.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,292,674 shares of the information technology services provider’s stock valued at $289,357,000 after acquiring an additional 128,263 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Up 1.6 %

Shares of CDW traded up $2.73 during mid-day trading on Monday, reaching $178.79. The company had a trading volume of 372,288 shares, compared to its average volume of 922,268. CDW has a fifty-two week low of $172.95 and a fifty-two week high of $263.37. The firm has a fifty day simple moving average of $196.12 and a 200-day simple moving average of $213.38. The stock has a market cap of $23.83 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 5.01 and a beta of 1.02. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). The firm had revenue of $5.52 billion during the quarter, compared to analyst estimates of $5.72 billion. CDW had a net margin of 5.33% and a return on equity of 58.31%. CDW’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 EPS. On average, sell-side analysts anticipate that CDW will post 8.99 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were issued a $0.625 dividend. This is a positive change from CDW’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.40%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

About CDW

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.