Stifel Nicolaus reissued their buy rating on shares of CDW Corporation (NASDAQ:CDW) in a research note published on Tuesday. They currently have a $70.00 price target on the information technology services provider’s stock.

Other research analysts have also issued research reports about the stock. BidaskClub raised shares of 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 target price on shares of CDW Corporation and gave the stock a buy rating in a research note on Thursday, August 3rd. Royal Bank Of Canada reaffirmed a buy rating and set a $70.00 target price on shares of CDW Corporation in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of CDW Corporation from a hold rating to a buy rating and set a $70.00 target price for the company in a research note on Tuesday, July 11th. Finally, Barclays PLC lowered shares of CDW Corporation from an overweight rating to an equal weight rating and set a $64.00 target price for the company. in a research note on Monday, July 24th. 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’s stock. The stock presently has an average rating of Buy and a consensus target price of $66.39.

CDW Corporation (NASDAQ CDW) traded up 1.01% during midday trading on Tuesday, reaching $62.29. 190,960 shares of the company’s stock traded hands. The firm’s 50-day moving average is $61.83 and its 200-day moving average is $60.56. CDW Corporation has a 1-year low of $43.64 and a 1-year high of $66.33. The company has a market capitalization of $9.65 billion, a price-to-earnings ratio of 23.65 and a beta of 1.08.

CDW Corporation (NASDAQ:CDW) last announced its earnings results 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. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a net margin of 2.95% and a return on equity of 58.89%. CDW Corporation’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.93 earnings per share. Analysts forecast that CDW Corporation will post $3.83 earnings per share for the current year.

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CDW Corporation declared that its Board of Directors has initiated a share repurchase 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

The company also recently declared a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Friday, August 25th were paid a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $0.64 dividend on an annualized basis and a yield of 1.04%. CDW Corporation’s dividend payout ratio is currently 24.33%.

In other CDW Corporation news, insider Christine A. Leahy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $60.26, for a total transaction of $723,120.00. Following the sale, the insider now owns 162,130 shares of the company’s stock, valued at $9,769,953.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan J. Stevens sold 6,700 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $62.55, for a total transaction of $419,085.00. Following the sale, the insider now directly owns 94,366 shares in the company, valued at approximately $5,902,593.30. The disclosure for this sale can be found here. Insiders sold 120,171 shares of company stock valued at $7,440,974 in the last quarter. 2.60% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Achmea Investment Management B.V. raised its holdings in CDW Corporation by 593.8% during the second quarter. Achmea Investment Management B.V. now owns 27,115 shares of the information technology services provider’s stock worth $1,693,000 after purchasing an additional 23,207 shares in the last quarter. Toronto Dominion Bank raised its holdings in CDW Corporation by 24.8% during the second quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock worth $123,000 after purchasing an additional 392 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in CDW Corporation by 10.5% during the second quarter. Public Employees Retirement System of Ohio now owns 187,917 shares of the information technology services provider’s stock worth $11,750,000 after purchasing an additional 17,849 shares in the last quarter. Piedmont Investment Advisors LLC raised its holdings in CDW Corporation by 63.8% during the second quarter. Piedmont Investment Advisors LLC now owns 23,562 shares of the information technology services provider’s stock worth $1,473,000 after purchasing an additional 9,179 shares in the last quarter. Finally, Sandhill Capital Partners LLC raised its holdings in CDW Corporation by 4.3% during the second quarter. Sandhill Capital Partners LLC now owns 290,574 shares of the information technology services provider’s stock worth $18,170,000 after purchasing an additional 11,854 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for CDW Corporation (NASDAQ:CDW)

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