CDW Corporation (NASDAQ:CDW)‘s stock had its “buy” rating reissued by stock analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday. They presently have a $70.00 price objective on the information technology services provider’s stock. Stifel Nicolaus’ price objective would suggest a potential upside of 16.78% from the stock’s current price.

Several other brokerages have also recently weighed in on CDW. BidaskClub cut shares of CDW Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Zacks Investment Research cut shares of CDW Corporation from a “hold” rating to a “strong sell” rating in a research report on Friday, July 28th. Robert W. Baird set a $71.00 price target on shares of CDW Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $71.00 price target (up previously from $70.00) on shares of CDW Corporation in a research report on Wednesday, August 9th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $66.39.

CDW Corporation (CDW) traded down 0.08% during trading on Tuesday, reaching $59.89. 156,128 shares of the company’s stock traded hands. The company has a 50-day moving average price of $62.11 and a 200 day moving average price of $60.55. The firm has a market capitalization of $9.27 billion, a PE ratio of 22.74 and a beta of 1.08. CDW Corporation has a one year low of $43.58 and a one year high of $66.33.

CDW Corporation (NASDAQ:CDW) last released its earnings results on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the firm earned $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, analysts anticipate that CDW Corporation will post $3.81 earnings per share for the current fiscal year.

CDW Corporation announced that its Board of Directors has initiated a stock buyback program 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 buy shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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In other news, insider Christina M. Corley sold 4,000 shares of the stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $62.40, for a total transaction of $249,600.00. Following the sale, the insider now owns 63,843 shares of the company’s stock, valued at $3,983,803.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 12,000 shares of the stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $61.33, for a total transaction of $735,960.00. Following the sale, the insider now directly owns 198,130 shares in the company, valued at approximately $12,151,312.90. The disclosure for this sale can be found here. Insiders have sold 120,171 shares of company stock worth $7,453,814 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CDW. BlackRock Inc. lifted its position in shares of CDW Corporation by 7,281.8% during the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock worth $627,607,000 after purchasing an additional 10,727,865 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of CDW Corporation by 4.5% during the first quarter. Vanguard Group Inc. now owns 15,015,969 shares of the information technology services provider’s stock worth $866,571,000 after purchasing an additional 653,020 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of CDW Corporation during the first quarter worth about $33,968,000. JPMorgan Chase & Co. lifted its position in shares of CDW Corporation by 13.0% during the first quarter. JPMorgan Chase & Co. now owns 4,787,140 shares of the information technology services provider’s stock worth $276,266,000 after purchasing an additional 549,088 shares in the last quarter. Finally, AQR Capital Management LLC lifted its position in shares of CDW Corporation by 53.4% during the first quarter. AQR Capital Management LLC now owns 1,106,106 shares of the information technology services provider’s stock worth $63,833,000 after purchasing an additional 384,980 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for CDW Corporation (NASDAQ:CDW)

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