CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,880,000 shares, a growth of 8.7% from the December 31st total of 2,650,000 shares. Based on an average trading volume of 1,320,000 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.2% of the shares of the stock are short sold.

CDW Trading Down 0.4 %

CDW opened at $198.44 on Tuesday. The company has a quick ratio of 1.28, a current ratio of 1.40 and a debt-to-equity ratio of 2.39. CDW has a 52 week low of $168.43 and a 52 week high of $263.37. The firm has a market cap of $26.44 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 5.39 and a beta of 1.01. The business’s 50 day moving average is $182.06 and its two-hundred day moving average is $202.83.

CDW Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 25th were paid a $0.625 dividend. The ex-dividend date was Monday, November 25th. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a dividend yield of 1.26%. CDW’s dividend payout ratio is 30.56%.

Analyst Upgrades and Downgrades

CDW has been the subject of a number of recent analyst reports. Barclays lowered their price target on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research note on Thursday, October 31st. Morgan Stanley raised their target price on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a research report on Monday, December 16th. Redburn Atlantic assumed coverage on shares of CDW in a research report on Friday, November 15th. They issued a “buy” rating and a $230.00 price target on the stock. JPMorgan Chase & Co. downgraded CDW from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $260.00 to $235.00 in a research report on Monday, October 28th. Finally, UBS Group decreased their price objective on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $239.33.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. PDS Planning Inc raised its stake in shares of CDW by 4.3% during the 3rd quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock worth $268,000 after purchasing an additional 49 shares in the last quarter. Allworth Financial LP boosted its position in CDW by 39.7% in the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in CDW by 1.4% during the fourth quarter. Summit Trail Advisors LLC now owns 4,040 shares of the information technology services provider’s stock valued at $703,000 after purchasing an additional 56 shares during the period. OneAscent Wealth Management LLC lifted its holdings in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock valued at $540,000 after purchasing an additional 58 shares in the last quarter. Finally, Fulcrum Equity Management increased its stake in shares of CDW by 4.3% during the 3rd quarter. Fulcrum Equity Management now owns 1,442 shares of the information technology services provider’s stock worth $326,000 after purchasing an additional 60 shares during the last quarter. 93.15% of the stock is currently owned by institutional investors.

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.