CDW Corporation (NASDAQ:CDW) insider Christine A. Leahy sold 12,000 shares of the stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $63.20, for a total transaction of $758,400.00. Following the completion of the sale, the insider now directly owns 186,130 shares in the company, valued at approximately $11,763,416. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
CDW Corporation (CDW) traded up 1.19% during trading on Thursday, reaching $64.58. 436,953 shares of the company’s stock traded hands. The company has a market capitalization of $10.14 billion, a price-to-earnings ratio of 26.27 and a beta of 1.08. The firm’s 50 day moving average is $63.13 and its 200-day moving average is $59.25. CDW Corporation has a 12 month low of $42.80 and a 12 month high of $66.33.
CDW Corporation (NASDAQ:CDW) last released its quarterly 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. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period in the previous year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect that CDW Corporation will post $3.82 EPS for the current fiscal year.
CDW Corporation declared that its board has initiated a share buyback plan on Thursday, August 3rd that allows the company to repurchase $750.00 million in shares. This repurchase authorization allows the information technology services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of research firms recently weighed in on CDW. Robert W. Baird set a $71.00 price objective on shares of CDW Corporation and gave the stock a “buy” rating in a report on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price objective on shares of CDW Corporation in a report on Wednesday. Zacks Investment Research cut shares of CDW Corporation from a “hold” rating to a “strong sell” rating in a report on Friday, July 28th. BidaskClub cut shares of CDW Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Finally, Barclays PLC cut shares of CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 target price on the stock. in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $62.28.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC boosted its position in CDW Corporation by 12.7% in the first quarter. Catalyst Capital Advisors LLC now owns 2,080 shares of the information technology services provider’s stock worth $120,000 after buying an additional 235 shares in the last quarter. James Investment Research Inc. acquired a new position in CDW Corporation during the first quarter worth about $153,000. Creative Planning boosted its position in CDW Corporation by 179.2% in the first quarter. Creative Planning now owns 3,256 shares of the information technology services provider’s stock worth $188,000 after buying an additional 2,090 shares in the last quarter. Brown Advisory Securities LLC acquired a new position in CDW Corporation during the first quarter worth about $212,000. Finally, Commerce Bank acquired a new position in CDW Corporation during the first quarter worth about $211,000. 91.06% of the stock is owned by institutional investors and hedge funds.
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.
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