CDW Co. (NASDAQ:CDW) Short Interest Update

CDW Co. (NASDAQ:CDW - Get Free Report) saw a significant increase in short interest in May. As of May 15th, there was short interest totalling 3,950,000 shares, an increase of 32.6% from the April 30th total of 2,980,000 shares. Based on an average trading volume of 1,500,000 shares, the short-interest ratio is currently 2.6 days. Approximately 3.0% of the company's stock are sold short.

Insider Transactions at CDW

In other CDW news, insider Christine A. Leahy sold 40,917 shares of CDW stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares of the company's stock, valued at $26,293,382.02. This trade represents a 22.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederick J. Kulevich sold 28,159 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total value of $5,375,553.10. Following the completion of the transaction, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. This trade represents a 43.84% decrease in their position. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CDW. GW&K Investment Management LLC raised its stake in shares of CDW by 78.9% during the 1st quarter. GW&K Investment Management LLC now owns 170 shares of the information technology services provider's stock valued at $27,000 after buying an additional 75 shares during the last quarter. Orion Capital Management LLC purchased a new position in CDW during the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its holdings in CDW by 39.7% in the fourth quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock valued at $32,000 after acquiring an additional 52 shares during the period. OFI Invest Asset Management purchased a new stake in CDW in the 4th quarter worth approximately $32,000. Finally, Bayforest Capital Ltd purchased a new stake in CDW in the 1st quarter worth approximately $31,000. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CDW. Morgan Stanley lifted their price objective on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Citigroup lifted their price objective on shares of CDW from $160.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lowered their price target on CDW from $222.00 to $175.00 and set a "neutral" rating on the stock in a research report on Thursday, April 17th. UBS Group cut their price objective on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $216.38.

CDW Stock Performance

CDW traded up $0.63 during trading on Thursday, hitting $177.43. The company's stock had a trading volume of 302,616 shares, compared to its average volume of 1,221,548. The business's 50 day simple moving average is $167.00 and its 200-day simple moving average is $175.81. The firm has a market cap of $23.36 billion, a PE ratio of 22.26, a P/E/G ratio of 3.21 and a beta of 0.91. CDW has a one year low of $137.31 and a one year high of $241.26. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.96 by $0.19. CDW had a net margin of 5.13% and a return on equity of 55.42%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm posted $1.92 EPS. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts predict that CDW will post 9.41 EPS for the current fiscal year.

CDW announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 5th that authorizes the company to buyback $750.00 million in outstanding shares. This buyback authorization authorizes the information technology services provider to purchase up to 2.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

CDW Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.50 annualized dividend and a dividend yield of 1.41%. CDW's dividend payout ratio (DPR) is presently 30.98%.

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.