CDW Co. (NASDAQ:CDW) Short Interest Down 12.3% in February

CDW Co. (NASDAQ:CDW) saw a large drop in short interest in the month of February. As of February 15th, there was short interest totalling 2,790,000 shares, a drop of 12.3% from the January 31st total of 3,180,000 shares. Based on an average daily volume of 1,330,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 2.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Orion Capital Management LLC acquired a new position in shares of CDW during the fourth quarter worth approximately $30,000. 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. OFI Invest Asset Management acquired a new stake in shares of CDW in the 4th quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in shares of CDW by 38.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider’s stock worth $36,000 after acquiring an additional 58 shares during the last quarter. Finally, Optiver Holding B.V. lifted its stake in shares of CDW by 107.2% during the fourth quarter. Optiver Holding B.V. now owns 230 shares of the information technology services provider’s stock valued at $40,000 after acquiring an additional 119 shares during the period. 93.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CDW. Morgan Stanley raised their price objective on CDW from $193.00 to $201.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 6th. Redburn Atlantic started coverage on CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 price objective on the stock. UBS Group decreased their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Barclays boosted their price target on shares of CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a report on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CDW currently has an average rating of “Moderate Buy” and an average target price of $242.67.

CDW Stock Down 2.5 %

CDW stock traded down $4.35 during trading hours on Thursday, hitting $168.24. The company had a trading volume of 691,975 shares, compared to its average volume of 1,341,579. The firm’s fifty day moving average is $186.57 and its 200-day moving average is $197.93. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.35 and a quick ratio of 1.24. CDW has a fifty-two week low of $167.83 and a fifty-two week high of $263.37. The firm has a market capitalization of $22.29 billion, a P/E ratio of 21.10, a price-to-earnings-growth ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, research analysts forecast that CDW will post 9.41 earnings per share for the current year.

CDW announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 5th that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th will be given a $0.625 dividend. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $2.50 annualized dividend and a yield of 1.49%. CDW’s payout ratio is 31.37%.

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.