CDW Corporation (NASDAQ:CDW)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a research note issued to investors on Tuesday, October 17th. They presently have a $70.00 target price on the information technology services provider’s stock. Stifel Nicolaus’ target price suggests a potential upside of 1.01% from the company’s previous close.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of CDW Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub raised shares of CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 5th. Royal Bank Of Canada upped their price objective on shares of CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Robert W. Baird reaffirmed an “outperform” rating and issued a $75.00 price objective (up previously from $71.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Finally, Barclays PLC downgraded shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective for the company. in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $66.95.
CDW Corporation (CDW) opened at 69.30 on Tuesday. The firm’s 50-day moving average is $65.81 and its 200-day moving average is $62.35. The stock has a market cap of $10.73 billion, a P/E 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 announced its quarterly earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (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 the consensus estimate of $3.84 billion. During the same quarter in the previous year, the company posted $0.93 earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities analysts forecast that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
CDW Corporation announced that its Board of Directors has approved a stock repurchase program on Thursday, August 3rd that allows the company to repurchase $750.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.
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In other CDW Corporation news, insider Thomas E. Richards sold 16,861 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now owns 714,931 shares in the company, valued at approximately $41,987,897.63. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christina M. Corley sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $62.44, for a total value of $249,760.00. Following the sale, the insider now owns 59,843 shares in the company, valued at approximately $3,736,596.92. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,341 shares of company stock worth $7,986,401. 2.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of CDW. Toronto Dominion Bank increased 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 purchasing 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 about $226,000. United Services Automobile Association acquired a new position in shares of CDW Corporation in the 1st quarter valued at about $239,000. Cambridge Investment Research Advisors Inc. grew its stake 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 in the last quarter. Finally, Financial Counselors Inc. grew its stake 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 in the last quarter. Institutional investors own 90.40% of the company’s stock.
CDW Corporation Company Profile
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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