CDW Corporation (NASDAQ:CDW) insider Christina M. Corley sold 4,000 shares of CDW Corporation stock in a transaction on Monday, October 16th. The shares were sold at an average price of $67.95, for a total value of $271,800.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of CDW Corporation (NASDAQ:CDW) traded up 0.20% during mid-day trading on Thursday, hitting $69.30. The stock had a trading volume of 659,519 shares. The stock’s 50-day moving average price is $65.81 and its 200-day moving average price is $62.35. The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of 26.31 and a beta of 1.08. CDW Corporation has a 12-month low of $43.64 and a 12-month high of $71.53.
CDW Corporation (NASDAQ:CDW) last issued its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.98 by $0.05. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts anticipate that CDW Corporation will post $3.83 EPS for the current fiscal year.
CDW Corporation declared that its Board of Directors has initiated a stock repurchase plan on Thursday, August 3rd that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
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Hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in shares of CDW Corporation by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after buying an additional 392 shares during the period. Achmea Investment Management B.V. acquired a new position in shares of CDW Corporation in the 1st quarter valued at $226,000. United Services Automobile Association acquired a new position in shares of CDW Corporation in the 1st quarter valued at $239,000. Cambridge Investment Research Advisors Inc. grew its holdings in shares of CDW Corporation by 1.3% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock valued at $262,000 after buying an additional 58 shares during the period. Finally, Financial Counselors Inc. grew its holdings in shares of CDW Corporation by 16.7% in the 2nd quarter. Financial Counselors Inc. now owns 4,339 shares of the information technology services provider’s stock valued at $271,000 after buying an additional 621 shares during the period. 90.40% of the stock is owned by institutional investors.
CDW has been the topic of several research analyst reports. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, August 5th. Robert W. Baird set a $71.00 price objective on CDW Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $70.00 price objective on shares of CDW Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research raised CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $70.00 price objective on shares of CDW Corporation in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $66.95.
About CDW Corporation
CDW Corporation (CDW) is a provider of integrated information technology (IT) solutions in the United States, Canada and the United Kingdom. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers in the United States based on employee size between Medium/Large customers, which primarily includes organizations with more than 100 employees, and Small Business customers, which primarily includes organizations with up to 100 employees.
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