CDW Corporation (NASDAQ:CDW) issued its quarterly earnings data on Wednesday. The information technology services provider reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06, Bloomberg Earnings reports. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period last year, the business earned $0.97 EPS. The business’s revenue was up 8.8% on a year-over-year basis.

CDW Corporation announced that its board has approved a share 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 purchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In related news, insider Jonathan J. Stevens sold 6,700 shares of the stock in a transaction on Friday, August 4th. The stock was sold at an average price of $64.04, for a total transaction of $429,068.00. Following the sale, the insider now directly owns 90,366 shares of the company’s stock, valued at $5,787,038.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas E. Richards sold 16,861 shares of the stock in a transaction on Friday, September 8th. The shares were sold at an average price of $58.73, for a total value of $990,246.53. Following the sale, the insider now directly owns 714,931 shares in the company, valued at $41,987,897.63. The disclosure for this sale can be found here. Insiders have sold 125,341 shares of company stock worth $7,986,401 over the last ninety days. 2.60% of the stock is currently owned by insiders.

CDW has been the topic of several recent analyst reports. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Robert W. Baird set a $71.00 price objective on CDW Corporation and gave the company a “buy” rating in a research note on Thursday, August 3rd. Royal Bank Of Canada restated 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 upgraded CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, July 11th. Finally, Stifel Nicolaus restated a “buy” rating and set a $70.00 price objective on shares of CDW Corporation in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned 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 $67.83.

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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.

Earnings History for CDW Corporation (NASDAQ:CDW)

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