CDW Co. (NASDAQ:CDW) Short Interest Up 10.0% in March

CDW Co. (NASDAQ:CDW - Get Free Report) was the recipient of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 2,650,000 shares, an increase of 10.0% from the February 29th total of 2,410,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 702,100 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CDW. Barclays increased their price objective on shares of CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on CDW from $253.00 to $267.00 and gave the stock an "overweight" rating in a research note on Thursday, February 8th. Morgan Stanley lowered CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 price objective for the company. in a report on Tuesday, December 12th. Finally, Evercore ISI boosted their price objective on shares of CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and an average price target of $228.60.

Institutional Investors Weigh In On CDW

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of CDW by 1.3% in the first quarter. Vanguard Group Inc. now owns 15,723,027 shares of the information technology services provider's stock worth $2,812,692,000 after acquiring an additional 196,216 shares in the last quarter. State Street Corp increased its holdings in CDW by 2.1% during the 2nd quarter. State Street Corp now owns 5,391,296 shares of the information technology services provider's stock worth $989,303,000 after purchasing an additional 110,044 shares during the period. Wellington Management Group LLP increased its holdings in CDW by 29.1% during the 4th quarter. Wellington Management Group LLP now owns 3,464,886 shares of the information technology services provider's stock worth $787,638,000 after purchasing an additional 781,421 shares during the period. Geode Capital Management LLC boosted its stake in shares of CDW by 2.3% in the 1st quarter. Geode Capital Management LLC now owns 2,881,054 shares of the information technology services provider's stock valued at $560,247,000 after buying an additional 63,457 shares during the period. Finally, Morgan Stanley grew its position in shares of CDW by 130.7% during the fourth quarter. Morgan Stanley now owns 2,442,301 shares of the information technology services provider's stock worth $436,146,000 after buying an additional 1,383,869 shares in the last quarter. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Trading Down 0.6 %

Shares of CDW traded down $1.43 during midday trading on Tuesday, reaching $251.63. The company had a trading volume of 477,352 shares, compared to its average volume of 711,144. CDW has a 1-year low of $160.66 and a 1-year high of $259.38. The company has a quick ratio of 1.11, a current ratio of 1.23 and a debt-to-equity ratio of 2.46. The firm has a 50 day simple moving average of $243.12 and a 200-day simple moving average of $223.47. The stock has a market cap of $33.77 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.90 and a beta of 1.09.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.01. The business had revenue of $5.02 billion during the quarter, compared to analysts' expectations of $5.32 billion. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.40 EPS. Research analysts forecast that CDW will post 9.88 EPS for the current fiscal year.

CDW declared that its board has approved a stock repurchase program on Wednesday, February 7th that permits the company to buyback $750.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

CDW Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Stockholders of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Friday, February 23rd. CDW's dividend payout ratio (DPR) is 30.62%.

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.

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