CDW Co. (NASDAQ:CDW) Short Interest Down 14.1% in November
CDW Co. (NASDAQ:CDW – Get Free Report) saw a large decline in short interest in November. As of November 30th, there was short interest totalling 1,710,000 shares, a decline of 14.1% from the November 15th total of 1,990,000 shares. Based on an average daily volume of 681,600 shares, the short-interest ratio is presently 2.5 days. Approximately 1.3% of the shares of the stock are short sold.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on CDW shares. UBS Group started coverage on shares of CDW in a research report on Tuesday, October 3rd. They set a “buy” rating and a $237.00 price objective on the stock. StockNews.com started coverage on shares of CDW in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Barclays boosted their price objective on shares of CDW from $216.00 to $219.00 and gave the company an “equal weight” rating in a research report on Thursday, November 2nd. Morgan Stanley cut shares of CDW from an “overweight” rating to an “equal weight” rating and set a $216.00 price objective on the stock. in a research report on Tuesday. Finally, Evercore ISI upped their price target on shares of CDW from $215.00 to $250.00 in a report on Thursday, October 12th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $213.20.
Read Our Latest Stock Analysis on CDW
Insider Buying and Selling
In related news, insider Christina M. Corley sold 700 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $220.01, for a total transaction of $154,007.00. Following the completion of the transaction, the insider now directly owns 62,536 shares of the company’s stock, valued at $13,758,545.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Christina M. Corley sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $220.01, for a total transaction of $154,007.00. Following the sale, the insider now directly owns 62,536 shares of the company’s stock, valued at approximately $13,758,545.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Christina M. Corley sold 48,320 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $217.23, for a total transaction of $10,496,553.60. Following the completion of the transaction, the insider now directly owns 62,536 shares of the company’s stock, valued at $13,584,695.28. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.
Institutional Investors Weigh In On CDW
Hedge funds and other institutional investors have recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in CDW in the 3rd quarter valued at $25,000. Sandy Spring Bank grew its stake in CDW by 87.3% in the 2nd quarter. Sandy Spring Bank now owns 148 shares of the information technology services provider’s stock valued at $27,000 after acquiring an additional 69 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in CDW in the 3rd quarter valued at $28,000. TFC Financial Management Inc. grew its stake in CDW by 61.1% in 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 period. Finally, Altshuler Shaham Ltd acquired a new stake in CDW in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 93.04% of the company’s stock.
CDW Stock Up 1.3 %
Shares of CDW stock traded up $2.79 during mid-day trading on Friday, hitting $223.23. 9,573,953 shares of the stock traded hands, compared to its average volume of 822,794. The stock has a market cap of $29.90 billion, a P/E ratio of 27.66, a P/E/G ratio of 1.78 and a beta of 1.09. The stock’s fifty day moving average is $209.97 and its two-hundred day moving average is $198.96. CDW has a 52-week low of $160.66 and a 52-week high of $223.45. The company has a debt-to-equity ratio of 3.13, a current ratio of 1.35 and a quick ratio of 1.20.
CDW (NASDAQ:CDW – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.44 by $0.16. The firm had revenue of $5.63 billion during the quarter, compared to analyst estimates of $5.82 billion. CDW had a net margin of 5.03% and a return on equity of 78.15%. Equities analysts predict that CDW will post 9.36 EPS for the current year.
CDW Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Friday, November 24th were paid a dividend of $0.62 per share. This is a boost from CDW’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 22nd. This represents a $2.48 dividend on an annualized basis and a dividend yield of 1.11%. CDW’s dividend payout ratio (DPR) is presently 30.96%.
CDW Company Profile (Get Free Report)
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, hybrid, and cloud capabilities across hybrid infrastructure, digital experience, and security.
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Original: MarketBeat News Feed: CDW Co. (NASDAQ:CDW) Short Interest Down 14.1% in November