CDW Corp Sees Significant Decrease in Short Interest (CDW)
Shares of CDW Corp (NASDAQ:CDW) were the recipient of a significant decrease in short interest during the month of July. As of July 31st, there was short interest totalling 966,771 shares, a decrease of 22.0% from the July 15th total of 1,239,544 shares, Stock Ratings Network.com reports. Based on an average daily trading volume, of 417,024 shares, the short-interest ratio is currently 2.3 days. Currently, 1.2% of the shares of the company are sold short.
A number of research firms have recently commented on CDW. Analysts at JPMorgan Chase & Co. raised their price target on shares of CDW Corp from $32.00 to $34.00 in a research note on Friday, August 1st. They now have an “overweight” rating on the stock. Separately, analysts at Barclays reiterated an “overweight” rating on shares of CDW Corp in a research note on Friday, August 1st. They now have a $38.00 price target on the stock, up previously from $36.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of CDW Corp in a research note on Friday, August 1st. They now have a $34.00 price target on the stock, up previously from $32.00. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $34.33.
Shares of CDW Corp (NASDAQ:CDW) opened at 31.94 on Friday. CDW Corp has a 52 week low of $20.50 and a 52 week high of $32.62. The stock’s 50-day moving average is $31.39 and its 200-day moving average is $28.37. The company has a market cap of $5.436 billion and a P/E ratio of 27.75.
CDW Corp (NASDAQ:CDW) last announced its earnings results on Thursday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter last year, the company posted $0.46 earnings per share. CDW Corp’s revenue was up 33.4% compared to the same quarter last year. On average, analysts predict that CDW Corp will post $2.29 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Monday, August 25th will be paid a dividend of $0.0425 per share. This represents a $0.17 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Thursday, August 21st.
CDW Corporation (NASDAQ:CDW) is a provider of integrated information technology (IT) solutions in the United States and Canada.
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