J P Morgan Chase & Co Reiterates Neutral Rating for CDW Corporation (NASDAQ:CDW)

CDW Corporation (NASDAQ:CDW)‘s stock had its “neutral” rating reissued by J P Morgan Chase & Co in a research note issued on Wednesday. They currently have a $60.00 target price on the information technology services provider’s stock, up from their prior target price of $59.00. J P Morgan Chase & Co’s target price points to a potential downside of 4.63% from the company’s previous close.

Several other brokerages have also recently issued reports on CDW. Zacks Investment Research upgraded CDW Corporation from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, July 11th. Robert W. Baird restated a “hold” rating on shares of CDW Corporation in a research note on Wednesday, May 3rd. BidaskClub upgraded CDW Corporation from a “hold” rating to a “buy” rating in a research note on Saturday. Barclays PLC cut CDW Corporation from an “overweight” rating to an “equal weight” rating and set a $64.00 price objective on the stock. in a research note on Monday, July 24th. Finally, Royal Bank Of Canada raised their price objective on CDW Corporation from $64.00 to $70.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. CDW Corporation has a consensus rating of “Buy” and an average target price of $65.94.

Shares of CDW Corporation (NASDAQ:CDW) traded down 1.44% during mid-day trading on Wednesday, hitting $62.91. 579,718 shares of the stock traded hands. The stock has a market cap of $9.88 billion, a PE ratio of 25.59 and a beta of 1.08. CDW Corporation has a one year low of $43.46 and a one year high of $66.33. The stock has a 50-day moving average of $63.31 and a 200 day moving average of $59.35.

CDW Corporation (NASDAQ:CDW) last announced its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported $1.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business posted $0.93 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Equities analysts predict that CDW Corporation will post $3.83 EPS for the current fiscal year.

CDW Corporation announced that its board has initiated a share repurchase plan on Thursday, August 3rd that authorizes the company to repurchase $750.00 million in outstanding shares. This repurchase authorization authorizes the information technology services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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In other CDW Corporation news, insider Jonathan J. Stevens sold 6,700 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $64.04, for a total value of $429,068.00. Following the sale, the insider now directly owns 90,366 shares in the company, valued at $5,787,038.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Neal J. Campbell sold 5,000 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $63.12, for a total value of $315,600.00. Following the completion of the sale, the insider now owns 54,417 shares in the company, valued at $3,434,801.04. The disclosure for this sale can be found here. Insiders sold 84,833 shares of company stock worth $5,266,312 over the last quarter. 2.20% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of CDW. Alps Advisors Inc. boosted its stake in 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 worth $504,000 after buying an additional 21 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in 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 worth $262,000 after buying an additional 58 shares during the last quarter. CENTRAL TRUST Co boosted its stake in 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 worth $357,000 after buying an additional 65 shares during the last quarter. Atria Investments LLC boosted its stake in 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 worth $229,000 after buying an additional 83 shares during the last quarter. Finally, Raymond James Trust N.A. boosted its stake in 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 worth $344,000 after buying an additional 83 shares during the last quarter. Institutional investors own 91.06% of the company’s stock.

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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