CDW (NASDAQ:CDW) Short Interest Down 13.1% in November
CDW (NASDAQ:CDW) was the target of a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 2,510,000 shares, a drop of 13.1% from the November 14th total of 2,890,000 shares. Currently, 1.8% of the company’s shares are short sold. Based on an average daily volume of 1,560,000 shares, the short-interest ratio is presently 1.6 days.
NASDAQ CDW traded up $0.97 during trading hours on Friday, hitting $137.77. 527,194 shares of the company’s stock were exchanged, compared to its average volume of 699,720. The firm has a market cap of $19.49 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.81 and a beta of 1.07. The stock has a 50-day simple moving average of $133.69 and a 200 day simple moving average of $118.75. The company has a current ratio of 1.33, a quick ratio of 1.14 and a debt-to-equity ratio of 3.57. CDW has a 1-year low of $74.32 and a 1-year high of $138.88.
CDW (NASDAQ:CDW) last issued its quarterly earnings results on Thursday, October 31st. The information technology services provider reported $1.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.12. The firm had revenue of $4.91 billion for the quarter, compared to analyst estimates of $4.66 billion. CDW had a return on equity of 91.07% and a net margin of 4.04%. The company’s revenue was up 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.42 earnings per share. On average, sell-side analysts anticipate that CDW will post 5.73 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on the stock. ValuEngine lowered shares of CDW from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley set a $126.00 target price on shares of CDW and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, BidaskClub upgraded shares of CDW from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $120.63.
In other CDW news, insider Thomas E. Richards sold 56,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $123.68, for a total transaction of $6,926,080.00. Following the completion of the sale, the insider now owns 633,776 shares of the company’s stock, valued at approximately $78,385,415.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert F. Kirby sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $111.60, for a total transaction of $145,080.00. Following the transaction, the insider now owns 32,470 shares of the company’s stock, valued at approximately $3,623,652. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 119,052 shares of company stock valued at $15,303,237. 2.25% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. North Star Investment Management Corp. bought a new stake in shares of CDW during the third quarter valued at approximately $26,000. Johnson Financial Group Inc. acquired a new stake in CDW in the 2nd quarter valued at $28,000. CSat Investment Advisory L.P. acquired a new stake in CDW in the 2nd quarter valued at $28,000. Cullen Frost Bankers Inc. increased its stake in CDW by 478.4% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 295 shares of the information technology services provider’s stock valued at $33,000 after purchasing an additional 244 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC bought a new stake in CDW during the 3rd quarter valued at $62,000. Institutional investors own 94.52% of the company’s stock.
CDW Company Profile
CDW Corporation provides integrated information technology (IT) solutions to business, government, education, and healthcare customers in the United States, Canada, and the United Kingdom. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products, as well as integrated IT solutions, including mobility, security, data center optimization, cloud computing, virtualization, and collaboration.
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