CDW Co. (NASDAQ:CDW) Short Interest Up 14.3% in March

CDW Co. (NASDAQ:CDW - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totalling 3,030,000 shares, an increase of 14.3% from the March 15th total of 2,650,000 shares. Based on an average daily volume of 696,800 shares, the short-interest ratio is currently 4.3 days. Approximately 2.3% of the company's stock are short sold.

CDW Trading Down 2.1 %

Shares of NASDAQ CDW traded down $5.09 during mid-day trading on Friday, hitting $242.91. 847,838 shares of the company traded hands, compared to its average volume of 624,147. CDW has a 1 year low of $160.66 and a 1 year high of $263.37. The stock has a market capitalization of $32.64 billion, a price-to-earnings ratio of 29.99, a PEG ratio of 2.75 and a beta of 1.09. 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 business has a 50 day moving average of $247.19 and a two-hundred day moving average of $226.38.

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

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were paid a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Friday, February 23rd. CDW's dividend payout ratio is currently 30.62%.

CDW announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 7th that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Institutional Investors Weigh In On CDW

Several hedge funds have recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in CDW in the 3rd quarter worth about $25,000. VisionPoint Advisory Group LLC acquired a new position in CDW in the 3rd quarter worth about $28,000. TFC Financial Management Inc. increased its holdings in shares of CDW by 61.1% during the 3rd quarter. TFC Financial Management Inc. now owns 145 shares of the information technology services provider's stock valued at $29,000 after acquiring an additional 55 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of CDW during the 4th quarter valued at about $30,000. Finally, Altshuler Shaham Ltd acquired a new position in shares of CDW during the 4th quarter valued at about $33,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CDW shares. Evercore ISI boosted their price target on CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a report on Friday, March 22nd. Citigroup boosted their price target on CDW from $255.00 to $295.00 and gave the company a "buy" rating in a report on Thursday, April 4th. JPMorgan Chase & Co. upped their price objective on CDW from $267.00 to $280.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Barclays upped their price objective on CDW from $219.00 to $261.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $238.90.

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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