CDW Corporation (NASDAQ:CDW) Receives Average Rating of “Buy” from Analysts
CDW Corporation (NASDAQ:CDW) has earned a consensus recommendation of “Buy” from the nine brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $65.42.
Several brokerages have weighed in on CDW. Barclays PLC reissued an “overweight” rating and set a $64.00 price objective (up from $62.00) on shares of CDW Corporation in a research note on Monday, May 1st. Zacks Investment Research cut CDW Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, April 17th. Robert W. Baird reissued a “buy” rating on shares of CDW Corporation in a research note on Saturday, May 13th. BidaskClub raised CDW Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Royal Bank Of Canada boosted their price objective on CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th.
In other news, insider Thomas E. Richards sold 15,733 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $63.49, for a total transaction of $998,888.17. Following the transaction, the insider now owns 747,869 shares of the company’s stock, valued at $47,482,202.81. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $63.20, for a total value of $758,400.00. Following the transaction, the insider now directly owns 186,130 shares in the company, valued at approximately $11,763,416. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,133 shares of company stock worth $4,757,684. Insiders own 2.20% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDW. Russell Investments Group Ltd. purchased a new stake in shares of CDW Corporation during the fourth quarter worth about $570,000. Teachers Advisors LLC raised its stake in shares of CDW Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 142,932 shares of the information technology services provider’s stock worth $7,445,000 after buying an additional 9,071 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of CDW Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 6,183 shares of the information technology services provider’s stock worth $357,000 after buying an additional 65 shares during the last quarter. Raymond James Trust N.A. raised its stake in shares of CDW Corporation by 1.4% in the first quarter. Raymond James Trust N.A. now owns 5,969 shares of the information technology services provider’s stock worth $344,000 after buying an additional 83 shares during the last quarter. Finally, Creative Planning raised its stake in shares of CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares during the last quarter. 91.06% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of CDW Corporation (NASDAQ CDW) opened at 63.81 on Tuesday. CDW Corporation has a one year low of $43.46 and a one year high of $66.33. The stock has a market capitalization of $10.02 billion, a PE ratio of 25.96 and a beta of 1.08. The company’s 50-day moving average price is $63.13 and its 200 day moving average price is $59.25.
CDW Corporation (NASDAQ:CDW) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.05. CDW Corporation had a return on equity of 56.91% and a net margin of 2.95%. The company had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the firm posted $0.93 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts anticipate that CDW Corporation will post $3.83 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.16 per share. The ex-dividend date is Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.00%. CDW Corporation’s dividend payout ratio is 24.33%.
CDW Corporation declared that its board has approved a share repurchase plan on Thursday, August 3rd that allows the company to buyback $750.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.
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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