Media stories about CDW Corporation (NASDAQ:CDW) have trended somewhat positive this week, Accern reports. Accern ranks the sentiment of news coverage by monitoring more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. CDW Corporation earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave news headlines about the information technology services provider an impact score of 44.8678613893267 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
These are some of the headlines that may have effected Accern Sentiment’s analysis:
Shares of CDW Corporation (NASDAQ:CDW) traded down 1.26% on Friday, hitting $68.43. The stock had a trading volume of 63,771 shares. The stock has a 50 day moving average of $65.81 and a 200 day moving average of $62.35. CDW Corporation has a 12-month low of $43.64 and a 12-month high of $71.53. The firm has a market cap of $10.60 billion, a price-to-earnings ratio of 25.98 and a beta of 1.08.
CDW Corporation (NASDAQ:CDW) last posted its quarterly earnings data 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. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.93 earnings per share. Equities analysts predict that CDW Corporation will post $3.83 earnings per share for the current fiscal year.
CDW Corporation announced that its board has approved a stock repurchase plan on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts recently issued reports on CDW shares. Zacks Investment Research lowered CDW Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Raymond James Financial, Inc. lowered CDW Corporation from a “market perform” rating to an “underperform” rating in a research report on Friday, October 13th. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Barclays PLC lowered CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price for the company. in a research report on Monday, July 24th. Finally, Robert W. Baird set a $71.00 target price on CDW Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $66.95.
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In related news, insider Thomas E. Richards sold 14,503 shares of the stock in a transaction that occurred on Friday, October 13th. The shares were sold at an average price of $67.97, for a total transaction of $985,768.91. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Thomas E. Richards sold 16,861 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $58.73, for a total transaction of $990,246.53. Following the sale, the insider now directly owns 714,931 shares of the company’s stock, valued at $41,987,897.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,341 shares of company stock valued at $7,986,401. Company insiders own 2.60% of the company’s stock.
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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