CDW Co. (NASDAQ:CDW) Short Interest Update

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

CDW Stock Down 0.4 %

CDW traded down $0.70 on Monday, reaching $198.44. The company’s stock had a trading volume of 1,763,406 shares, compared to its average volume of 1,313,608. The stock 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 200 day moving average is $202.83. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.40 and a quick ratio of 1.28. CDW has a 1 year low of $168.43 and a 1 year high of $263.37.

CDW Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley increased their price objective on CDW from $190.00 to $193.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. UBS Group reduced their target price on shares of CDW from $233.00 to $220.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. 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. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Finally, Redburn Atlantic started coverage on shares of CDW in a report on Friday, November 15th. They set a “buy” rating and a $230.00 target price on the stock. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $239.33.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Arcadia Investment Management Corp MI purchased a new position in CDW during the fourth quarter valued at approximately $174,000. Jacobson & Schmitt Advisors LLC raised its position in CDW by 2.8% in the fourth quarter. Jacobson & Schmitt Advisors LLC now owns 69,432 shares of the information technology services provider’s stock worth $12,084,000 after purchasing an additional 1,861 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of CDW by 16.4% in the 4th quarter. Global Retirement Partners LLC now owns 531 shares of the information technology services provider’s stock valued at $92,000 after purchasing an additional 75 shares in the last quarter. Venturi Wealth Management LLC raised its position in CDW by 9.0% in the 4th quarter. Venturi Wealth Management LLC now owns 7,838 shares of the information technology services provider’s stock valued at $1,364,000 after purchasing an additional 649 shares during the last quarter. Finally, Citizens & Northern Corp lifted its position in shares of CDW by 2.9% during the fourth quarter. Citizens & Northern Corp now owns 6,580 shares of the information technology services provider’s stock worth $1,145,000 after purchasing an additional 187 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

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.