CDW Corporation (NASDAQ:CDW) Short Interest Down 21.9% in December

CDW Corporation (NASDAQ:CDW) was the target of a significant drop in short interest in December. As of December 31st, there was short interest totaling 3,997,350 shares, a drop of 21.9% from the December 15th total of 5,119,976 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily volume of 2,395,132 shares, the short-interest ratio is presently 1.7 days. Based on an average daily volume of 2,395,132 shares, the short-interest ratio is presently 1.7 days. Currently, 3.1% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Morgan Stanley decreased their price target on shares of CDW from $191.00 to $177.00 and set an “overweight” rating for the company in a report on Wednesday, December 17th. Barclays cut their price target on shares of CDW from $176.00 to $148.00 and set an “equal weight” rating on the stock in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “hold (c-)” rating on shares of CDW in a report on Thursday, October 30th. Evercore ISI lowered their target price on shares of CDW from $215.00 to $200.00 and set an “outperform” rating on the stock in a report on Monday, October 20th. Finally, UBS Group dropped their price target on CDW from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $186.43.

Insider Buying and Selling at CDW

In related news, insider Sona Chawla sold 7,400 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $146.17, for a total value of $1,081,658.00. Following the completion of the transaction, the insider owned 28,110 shares in the company, valued at $4,108,838.70. The trade was a 20.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CDW

Hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new position in CDW during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new stake in CDW in the third quarter valued at approximately $57,000. Covestor Ltd grew its stake in shares of CDW by 87.9% during the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock worth $77,000 after buying an additional 226 shares during the last quarter. Steph & Co. increased its holdings in shares of CDW by 917.6% during the second quarter. Steph & Co. now owns 692 shares of the information technology services provider’s stock worth $124,000 after buying an additional 624 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of CDW by 52.6% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 815 shares of the information technology services provider’s stock worth $146,000 after buying an additional 281 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors and hedge funds.

CDW Trading Down 0.4%

CDW opened at $131.75 on Monday. The company has a 50-day simple moving average of $140.43 and a 200 day simple moving average of $156.17. CDW has a twelve month low of $126.93 and a twelve month high of $222.92. The company has a quick ratio of 1.30, a current ratio of 1.39 and a debt-to-equity ratio of 2.21. The stock has a market capitalization of $17.15 billion, a price-to-earnings ratio of 16.64, a P/E/G ratio of 1.72 and a beta of 1.08.

CDW (NASDAQ:CDW) last announced its quarterly earnings data on Tuesday, November 4th. The information technology services provider reported $2.71 EPS for the quarter, beating the consensus estimate of $2.62 by $0.09. CDW had a net margin of 4.76% and a return on equity of 51.89%. The business had revenue of $5.74 billion during the quarter, compared to the consensus estimate of $5.75 billion. Analysts predict that CDW will post 9.41 EPS for the current fiscal year.

CDW Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th were given a $0.63 dividend. This is a boost from CDW’s previous quarterly dividend of $0.63. This represents a $2.52 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, November 25th. CDW’s dividend payout ratio (DPR) is presently 31.82%.

CDW Company Profile

CDW (NASDAQ: CDW) is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.