CDW Corporation (NASDAQ:CDW)‘s stock had its “outperform” rating reiterated by stock analysts at Royal Bank Of Canada in a research report issued on Wednesday. They currently have a $71.00 price target on the information technology services provider’s stock, up from their prior price target of $70.00. Royal Bank Of Canada’s target price points to a potential upside of 11.23% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Monday, April 17th. Barclays PLC restated an “overweight” rating and set a $64.00 price objective (up previously from $62.00) on shares of CDW Corporation in a report on Monday, May 1st. Robert W. Baird restated a “buy” rating on shares of CDW Corporation in a report on Saturday, May 13th. Finally, BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $64.69.

Shares of CDW Corporation (NASDAQ CDW) opened at 63.83 on Wednesday. CDW Corporation has a 52 week low of $43.46 and a 52 week high of $66.33. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 25.97 and a beta of 1.08. The company has a 50-day moving average price of $63.31 and a 200-day moving average price of $59.35.

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 Zacks’ consensus estimate of $0.98 by $0.05. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business earned $0.93 EPS. CDW Corporation’s revenue was up 9.0% compared to the same quarter last year. Equities analysts anticipate that CDW Corporation will post $3.83 EPS for the current year.

CDW Corporation announced that its Board of Directors has authorized a stock buyback program on Thursday, August 3rd that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to purchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

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In related news, insider Christine A. Leahy sold 12,000 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $59.22, for a total transaction of $710,640.00. Following the completion of the sale, the insider now directly owns 210,130 shares in the company, valued at approximately $12,443,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christina M. Corley sold 4,000 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $60.21, for a total value of $240,840.00. Following the sale, the insider now owns 67,843 shares of the company’s stock, valued at $4,084,827.03. The disclosure for this sale can be found here. Insiders sold a total of 79,833 shares of company stock valued at $4,950,712 over the last quarter. Company insiders own 2.20% of the company’s stock.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of CDW Corporation by 4.5% in 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 buying an additional 653,020 shares during the period. BlackRock Inc. boosted its stake in shares of CDW Corporation by 7,281.8% in the first quarter. BlackRock Inc. now owns 10,875,190 shares of the information technology services provider’s stock worth $627,607,000 after buying an additional 10,727,865 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of CDW Corporation by 13.0% in 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 buying an additional 549,088 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of CDW Corporation by 1.9% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,784,418 shares of the information technology services provider’s stock worth $218,399,000 after buying an additional 72,351 shares during the period. Finally, State Street Corp boosted its stake in shares of CDW Corporation by 3.0% in the first quarter. State Street Corp now owns 2,836,131 shares of the information technology services provider’s stock worth $163,683,000 after buying an additional 81,539 shares during the period. Hedge funds and other institutional investors own 91.06% 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.

Analyst Recommendations for CDW Corporation (NASDAQ:CDW)

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