CDW Co. (NASDAQ:CDW) Short Interest Up 24.0% in February

CDW Co. (NASDAQ:CDW) was the target of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,460,000 shares, an increase of 24.0% from the February 13th total of 2,790,000 shares. Currently, 2.6% of the company’s stock are short sold. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is presently 2.6 days.

CDW Stock Performance

Shares of NASDAQ CDW opened at $172.21 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.24 and a debt-to-equity ratio of 2.38. CDW has a 12 month low of $162.84 and a 12 month high of $263.37. The stock has a 50 day moving average of $185.18 and a 200-day moving average of $194.11. The company has a market capitalization of $22.82 billion, a P/E ratio of 21.50, a P/E/G ratio of 3.21 and a beta of 1.01.

CDW (NASDAQ:CDW) last issued its quarterly earnings data on Wednesday, February 5th. The information technology services provider reported $2.40 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%. As a group, equities research analysts predict that CDW will post 9.41 EPS for the current year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.625 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.45%. CDW’s payout ratio is presently 31.37%.

CDW announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 5th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to purchase up to 2.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

CDW has been the topic of a number of recent research reports. Barclays lifted their target price on CDW from $201.00 to $223.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Morgan Stanley lifted their target price on CDW from $193.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, UBS Group lowered their price target on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $242.67.

Institutional Investors Weigh In On CDW

Institutional investors have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new stake in shares of CDW in the third quarter valued at approximately $1,629,000. Assenagon Asset Management S.A. lifted its stake in CDW by 7,549.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock worth $44,601,000 after purchasing an additional 252,921 shares during the last quarter. Franklin Resources Inc. lifted its stake in CDW by 3.4% during the third quarter. Franklin Resources Inc. now owns 108,009 shares of the information technology services provider’s stock worth $24,138,000 after purchasing an additional 3,567 shares during the last quarter. Graphene Investments SAS lifted its stake in CDW by 17.6% during the fourth quarter. Graphene Investments SAS now owns 17,400 shares of the information technology services provider’s stock worth $3,028,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Madison Investment Advisors LLC bought a new stake in CDW during the fourth quarter worth $130,996,000. 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.