CDW Corporation (NASDAQ:CDW) Stock Now Rated “Moderate Buy” by Sell-Side Analysts

CDW Corporation (NASDAQ:CDW) has earned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $150.12.

CDW has been the topic of a number of research analyst reports. Barclays cut their price objective on shares of CDW from $150.00 to $148.00 and set an “equal weight” rating on the stock in a research report on Monday, September 21st. Weiss Ratings raised CDW from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 25th. Citigroup upped their price target on CDW from $123.00 to $145.00 and gave the stock a “neutral” rating in a research note on Monday, July 13th. Finally, Morgan Stanley increased their price target on CDW from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th.

Insider Buying and Selling

In other CDW news, insider Elizabeth Connelly sold 26,695 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $137.62, for a total value of $3,673,765.90. Following the transaction, the insider directly owned 34,215 shares of the company’s stock, valued at approximately $4,708,668.30. This trade represents a 43.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.82% of the company’s stock.

Institutional Trading of CDW

Several institutional investors and hedge funds have recently modified their holdings of the stock. Union Savings Bank grew its holdings in CDW by 500.0% during the third quarter. Union Savings Bank now owns 192 shares of the information technology services provider’s stock worth $25,000 after buying an additional 160 shares in the last quarter. Manchester Capital Management LLC lifted its position in shares of CDW by 10,200.0% during the third quarter. Manchester Capital Management LLC now owns 206 shares of the information technology services provider’s stock valued at $26,000 after purchasing an additional 204 shares in the last quarter. Hollencrest Capital Management lifted its position in shares of CDW by 909.1% during the first quarter. Hollencrest Capital Management now owns 222 shares of the information technology services provider’s stock valued at $27,000 after purchasing an additional 200 shares in the last quarter. Allied Private Wealth LLC purchased a new position in CDW during the second quarter worth about $28,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in CDW during the second quarter worth about $28,000. 93.15% of the stock is owned by hedge funds and other institutional investors.

CDW Trading Down 1.1%

CDW stock opened at $161.41 on Friday. CDW has a 12-month low of $97.12 and a 12-month high of $166.15. The firm’s fifty day moving average is $145.57 and its 200 day moving average is $132.71.

CDW (NASDAQ:CDW) last issued its earnings results on Wednesday, August 5th. The information technology services provider reported $2.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.80 by $0.11. The company had revenue of $6.57 billion for the quarter, compared to the consensus estimate of $6.21 billion. During the same period in the prior year, the company earned $2.60 earnings per share. The firm’s revenue was up 10.0% compared to the same quarter last year. As a group, equities research analysts predict that CDW will post 10.33 EPS for the current fiscal year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Tuesday, August 25th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, August 25th. This represents a $2.52 annualized dividend and a yield of 1.6%.

CDW Company Profile

CDW Corporation (NASDAQ: CDW) is a provider of technology products and services for business, government, education and healthcare organizations. The company helps customers plan, procure, implement and manage information technology solutions from leading hardware, software and cloud vendors.

Its offerings include computers, servers, networking equipment, data-storage systems, cybersecurity products, collaboration tools, software licensing and cloud solutions. CDW also provides professional and managed services, including technology consulting, infrastructure deployment, cloud management, security support and lifecycle services.

Founded in 1984 as Computer Discount Warehouse, CDW serves customers primarily in the United States, Canada and the United Kingdom through sales teams, digital channels and technology partnerships.