Shares of CDW Corporation (NASDAQ:CDW) have been assigned an average rating of “Buy” from the ten brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $66.56.

A number of research analysts recently issued reports on the company. BidaskClub lowered CDW Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research lowered CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. Robert W. Baird set a $71.00 target price on CDW Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Royal Bank Of Canada reiterated an “outperform” rating and issued a $71.00 target price (up from $70.00) on shares of CDW Corporation in a report on Wednesday, August 9th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $71.00 target price on shares of CDW Corporation in a report on Monday, September 18th.

Shares of CDW Corporation (NASDAQ:CDW) traded down 0.33% during midday trading on Wednesday, hitting $66.00. The company had a trading volume of 1,482,421 shares. CDW Corporation has a 12 month low of $43.64 and a 12 month high of $66.80. The firm has a market capitalization of $10.22 billion, a PE ratio of 25.06 and a beta of 1.08. The company has a 50-day moving average of $61.75 and a 200 day moving average of $60.65.

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, beating the Zacks’ consensus estimate of $0.98 by $0.05. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.84 billion. CDW Corporation had a return on equity of 58.89% and a net margin of 2.95%. CDW Corporation’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.93 earnings per share. On average, analysts expect that CDW Corporation will post $3.83 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Friday, August 25th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, August 23rd. CDW Corporation’s dividend payout ratio (DPR) is 24.33%.

CDW Corporation announced that its Board of Directors has initiated a share buyback program on Thursday, August 3rd that allows the company to buyback $750.00 million in shares. This buyback authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider Christina M. Corley sold 4,000 shares of the business’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $62.40, for a total value of $249,600.00. Following the completion of the sale, the insider now directly owns 63,843 shares of the company’s stock, valued at approximately $3,983,803.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 12,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $60.26, for a total value of $723,120.00. Following the completion of the sale, the insider now directly owns 162,130 shares of the company’s stock, valued at $9,769,953.80. The disclosure for this sale can be found here. Insiders have sold a total of 124,171 shares of company stock valued at $7,689,854 over the last ninety days. 2.60% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of the company. Achmea Investment Management B.V. lifted its holdings in shares of CDW Corporation by 593.8% in the 2nd quarter. Achmea Investment Management B.V. now owns 27,115 shares of the information technology services provider’s stock valued at $1,693,000 after purchasing an additional 23,207 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of CDW Corporation by 24.8% in the 2nd quarter. Toronto Dominion Bank now owns 1,973 shares of the information technology services provider’s stock valued at $123,000 after purchasing an additional 392 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of CDW Corporation by 10.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 187,917 shares of the information technology services provider’s stock valued at $11,750,000 after purchasing an additional 17,849 shares during the last quarter. Piedmont Investment Advisors LLC lifted its holdings in shares of CDW Corporation by 63.8% in the 2nd quarter. Piedmont Investment Advisors LLC now owns 23,562 shares of the information technology services provider’s stock valued at $1,473,000 after purchasing an additional 9,179 shares during the last quarter. Finally, Sandhill Capital Partners LLC lifted its holdings in shares of CDW Corporation by 4.3% in the 2nd quarter. Sandhill Capital Partners LLC now owns 290,574 shares of the information technology services provider’s stock valued at $18,170,000 after purchasing an additional 11,854 shares during the last quarter. 90.65% of the stock is owned by institutional investors and hedge funds.

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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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