CDW Corporation (NASDAQ:CDW) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “CDW Corporation offers information technology products and services to business, government, education and healthcare customers primarily in the United States and Canada. Its hardware products comprise network communications, notebooks/mobile devices, data storage, video monitors, printers, desktops and servers as well as NetComm products. The company’s software services include licensing, licensing management, software solutions and services. In addition, it offers configuration services which include virtualization, collaboration, security, mobility, data centre optimization and cloud computing. CDW Corporation is headquartered in Vernon Hills, Illinois. “

A number of other research analysts also recently issued reports on the stock. Royal Bank Of Canada restated a “buy” rating and set a $64.00 target price on shares of CDW Corporation in a research report on Monday, April 17th. Barclays PLC reiterated an “overweight” rating and issued a $64.00 price target (up from $62.00) on shares of CDW Corporation in a research report on Monday, May 1st. Northcoast Research assumed coverage on shares of CDW Corporation in a research report on Monday, April 24th. They issued a “buy” rating and a $70.00 price target on the stock. Robert W. Baird reiterated a “hold” rating on shares of CDW Corporation in a research report on Wednesday, May 3rd. Finally, BidaskClub downgraded shares of CDW Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. CDW Corporation presently has an average rating of “Buy” and an average target price of $64.06.

CDW Corporation (NASDAQ:CDW) traded up 0.03% during mid-day trading on Tuesday, hitting $63.83. 472,670 shares of the company were exchanged. CDW Corporation has a 12-month low of $43.46 and a 12-month high of $66.33. The company has a 50 day moving average of $63.13 and a 200 day moving average of $59.25. The stock has a market cap of $10.03 billion, a P/E ratio of 25.97 and a beta of 1.08.

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 analysts’ consensus estimates of $0.98 by $0.05. CDW Corporation had a net margin of 2.95% and a return on equity of 56.91%. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the prior year, the company posted $0.93 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that CDW Corporation will post $3.83 earnings per share for the current fiscal year.

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

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In other news, insider Christine A. Leahy sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $59.22, for a total transaction of $710,640.00. Following the completion of the transaction, the insider now directly owns 210,130 shares of the company’s stock, valued at approximately $12,443,898.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christina M. Corley sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $59.01, for a total transaction of $236,040.00. Following the transaction, the insider now directly owns 71,843 shares of the company’s stock, valued at $4,239,455.43. The disclosure for this sale can be found here. Insiders have sold a total of 77,133 shares of company stock worth $4,757,684 over the last 90 days. Corporate insiders own 2.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. boosted its position in shares of CDW Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,059 shares of the information technology services provider’s stock valued at $504,000 after buying an additional 21 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of CDW Corporation by 1.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 4,542 shares of the information technology services provider’s stock valued at $262,000 after buying an additional 58 shares in the last quarter. CENTRAL TRUST Co boosted its position in shares of CDW Corporation by 1.1% in the first quarter. CENTRAL TRUST Co now owns 6,183 shares of the information technology services provider’s stock valued at $357,000 after buying an additional 65 shares in the last quarter. Atria Investments LLC boosted its position in shares of CDW Corporation by 2.1% in the first quarter. Atria Investments LLC now owns 3,962 shares of the information technology services provider’s stock valued at $229,000 after buying an additional 83 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in shares of CDW Corporation by 1.4% in the first quarter. Raymond James Trust N.A. now owns 5,969 shares of the information technology services provider’s stock valued at $344,000 after buying an additional 83 shares in the last quarter. 91.06% of the stock is 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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