Short Interest in CDW Corporation (NASDAQ:CDW) Expands By 15.8%

Key Points

• Short interest in CDW rose 15.8% in April to 5,909,706 shares (about 4.7% of shares sold short), yielding a short-interest ratio of 4.1 days based on average daily volume.
• CDW beat expectations with Q results of $2.57 EPS versus $2.44 est. and $5.51B revenue (up 6.3% YoY); analysts forecast FY EPS of 10.01 and a consensus target price of about $160.43 (consensus "Moderate Buy").

CDW Corporation (NASDAQ:CDW - Get Free Report) saw a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 5,909,706 shares, an increase of 15.8% from the March 31st total of 5,101,480 shares. Currently, 4.7% of the company's shares are sold short. Based on an average daily trading volume, of 1,425,872 shares, the short-interest ratio is currently 4.1 days.

CDW Trading Up 1.0%

NASDAQ:CDW opened at $136.91 on Friday. CDW has a one year low of $112.98 and a one year high of $192.30. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.10 and a current ratio of 1.18. The firm has a market cap of $17.52 billion, a P/E ratio of 16.92, a P/E/G ratio of 1.87 and a beta of 1.02. The firm has a 50-day simple moving average of $125.36 and a 200-day simple moving average of $135.13.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.44 by $0.13. CDW had a net margin of 4.76% and a return on equity of 50.66%. The business had revenue of $5.51 billion during the quarter, compared to analyst estimates of $5.33 billion. During the same quarter in the previous year, the business posted $2.48 EPS. The company's quarterly revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate that CDW will post 10.01 EPS for the current fiscal year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Wednesday, February 25th were issued a $0.63 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $2.52 annualized dividend and a dividend yield of 1.8%. CDW's payout ratio is currently 31.15%.

Institutional Investors Weigh In On CDW

Large investors have recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in shares of CDW in the 3rd quarter valued at about $26,000. Quent Capital LLC bought a new position in shares of CDW during the 3rd quarter worth approximately $57,000. eCIO Inc. bought a new position in shares of CDW during the 4th quarter worth approximately $61,000. Covestor Ltd raised its stake in shares of CDW by 87.9% during the 3rd quarter. Covestor Ltd now owns 483 shares of the information technology services provider's stock worth $77,000 after acquiring an additional 226 shares in the last quarter. Finally, American National Bank & Trust bought a new position in shares of CDW during the 4th quarter worth approximately $110,000. Institutional investors own 93.15% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Barclays lowered their price objective on shares of CDW from $148.00 to $144.00 and set an "equal weight" rating for the company in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price objective on shares of CDW from $170.00 to $160.00 and set a "neutral" rating for the company in a research report on Thursday, February 5th. Morgan Stanley boosted their price objective on shares of CDW from $141.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. UBS Group lowered their price objective on shares of CDW from $190.00 to $162.00 and set a "buy" rating for the company in a research report on Thursday, February 5th. Finally, Citigroup boosted their price objective on shares of CDW from $148.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat.com, CDW currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.43.

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.

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