CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW - Get Free Report) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 3,820,000 shares, a growth of 16.5% from the July 15th total of 3,280,000 shares. Approximately 2.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 943,000 shares, the days-to-cover ratio is presently 4.1 days.

Wall Street Analyst Weigh In

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Several analysts have recently weighed in on CDW shares. Citigroup lowered their price objective on shares of CDW from $295.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on CDW from $280.00 to $265.00 and set an "overweight" rating on the stock in a research report on Thursday, May 2nd. Barclays cut their price objective on CDW from $232.00 to $229.00 and set an "equal weight" rating for the company in a report on Thursday, August 1st. Northcoast Research raised CDW from a "neutral" rating to a "buy" rating and set a $270.00 price objective on the stock in a report on Friday, June 7th. Finally, Stifel Nicolaus boosted their target price on CDW from $250.00 to $260.00 and gave the stock a "buy" rating in a research report on Wednesday, July 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $254.63.

Read Our Latest Research Report on CDW

CDW Trading Up 0.4 %

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CDW stock traded up $0.89 during midday trading on Friday, hitting $222.76. The company had a trading volume of 2,287,028 shares, compared to its average volume of 828,968. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.03. CDW has a 52 week low of $185.04 and a 52 week high of $263.37. The stock's 50 day moving average price is $223.32 and its 200 day moving average price is $233.32. The stock has a market cap of $29.94 billion, a price-to-earnings ratio of 27.81, a PEG ratio of 3.17 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The information technology services provider reported $2.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.39 by ($0.05). The firm had revenue of $5.42 billion during the quarter, compared to analysts' expectations of $5.43 billion. CDW had a net margin of 5.29% and a return on equity of 62.22%. CDW's revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.43 EPS. As a group, equities research analysts expect that CDW will post 9.6 earnings per share for the current fiscal year.

CDW Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 26th will be issued a dividend of $0.62 per share. The ex-dividend date is Monday, August 26th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. CDW's dividend payout ratio is presently 30.96%.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 18,437 shares of the company's stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the sale, the insider now owns 22,428 shares of the company's stock, valued at approximately $5,392,812.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Sona Chawla sold 18,437 shares of the business's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $240.45, for a total transaction of $4,433,176.65. Following the completion of the transaction, the insider now directly owns 22,428 shares in the company, valued at $5,392,812.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Christine A. Leahy purchased 1,200 shares of the stock in a transaction on Thursday, August 1st. The stock was acquired at an average cost of $216.15 per share, for a total transaction of $259,380.00. Following the acquisition, the insider now owns 102,200 shares in the company, valued at $22,090,530. The disclosure for this purchase can be found here. Insiders own 0.90% of the company's stock.

Institutional Trading of CDW

Several large investors have recently added to or reduced their stakes in CDW. International Assets Investment Management LLC bought a new position in shares of CDW in the 4th quarter worth approximately $65,240,000. Cerity Partners LLC lifted its position in CDW by 44.9% during the fourth quarter. Cerity Partners LLC now owns 14,553 shares of the information technology services provider's stock valued at $3,308,000 after buying an additional 4,511 shares during the period. Simplicity Solutions LLC boosted its holdings in shares of CDW by 2.3% during the 4th quarter. Simplicity Solutions LLC now owns 2,907 shares of the information technology services provider's stock valued at $661,000 after buying an additional 65 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of CDW by 8.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 348,384 shares of the information technology services provider's stock worth $79,195,000 after buying an additional 26,529 shares during the period. Finally, Capital Analysts LLC lifted its position in CDW by 21.2% during the 4th quarter. Capital Analysts LLC now owns 406 shares of the information technology services provider's stock valued at $93,000 after acquiring an additional 71 shares during the period. Institutional investors own 93.15% of the company's stock.

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.

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