BidaskClub cut shares of CDW Corporation (NASDAQ:CDW) from a buy rating to a hold rating in a research note published on Tuesday morning.

A number of other research analysts have also recently issued reports on CDW. Royal Bank Of Canada lifted their price objective on CDW Corporation from $64.00 to $70.00 and gave the company an outperform rating in a research note on Monday, June 26th. Zacks Investment Research cut CDW Corporation from a buy rating to a hold rating in a research note on Tuesday, July 18th. Barclays PLC cut CDW Corporation from an overweight rating to an equal weight rating and set a $64.00 price objective for the company. in a research note on Monday, July 24th. Robert W. Baird upgraded CDW Corporation from a neutral rating to an outperform rating and lifted their price objective for the company from $63.00 to $71.00 in a research note on Tuesday, May 9th. Finally, Northcoast Research started coverage on CDW Corporation in a research note on Monday, April 24th. They set a buy rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $62.28.

CDW Corporation (NASDAQ CDW) traded up 0.02% during midday trading on Tuesday, hitting $63.37. The stock had a trading volume of 367,937 shares. CDW Corporation has a 12 month low of $41.40 and a 12 month high of $66.33. The company has a market cap of $9.95 billion, a P/E ratio of 25.78 and a beta of 1.08. The firm’s 50-day moving average price is $62.97 and its 200 day moving average price is $59.00.

CDW Corporation (NASDAQ:CDW) last released its earnings results on Wednesday, May 3rd. The information technology services provider reported $0.75 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.04. The company had revenue of $3.32 billion during the quarter, compared to analysts’ expectations of $3.24 billion. CDW Corporation had a return on equity of 55.44% and a net margin of 2.85%. The firm’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. On average, analysts expect that CDW Corporation will post $3.82 earnings per share for the current fiscal year.

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In other CDW Corporation news, insider Thomas E. Richards sold 15,733 shares of CDW Corporation stock in a transaction on Monday, July 17th. The stock was sold at an average price of $63.49, for a total value of $998,888.17. Following the completion of the sale, the insider now owns 747,869 shares of the company’s stock, valued at approximately $47,482,202.81. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Christine A. Leahy sold 12,000 shares of CDW Corporation stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $63.20, for a total value of $758,400.00. Following the completion of the sale, the insider now directly owns 186,130 shares of the company’s stock, valued at approximately $11,763,416. The disclosure for this sale can be found here. In the last three months, insiders sold 83,833 shares of company stock valued at $5,152,381. Corporate insiders own 2.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Catalyst Capital Advisors LLC raised its stake 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 during the last quarter. James Investment Research Inc. acquired a new stake in CDW Corporation during the first quarter worth approximately $153,000. Creative Planning raised its stake 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 during the last quarter. Commerce Bank acquired a new stake in CDW Corporation during the first quarter worth approximately $211,000. Finally, Brown Advisory Securities LLC acquired a new stake in CDW Corporation during the first quarter worth approximately $212,000. 90.99% 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.

Analyst Recommendations for CDW Corporation (NASDAQ:CDW)

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