CDW CorporationNasdaq: CDW
Information Technology · Technology Distributors
$128.40
+1.34%
Vol: 1.0M
Research Digest
Friday, June 19, 2026
CDW jumps ~10% after board authorizes $1B buyback expansion and CEO makes open-market share purchase.
CDW surged approximately 10% on June 1, 2026 after the board authorized a $1 billion increase to its share repurchase program, on top of $484 million remaining, and CEO Christine Leahy made an open-market purchase of company shares. Q1 2026 net sales were $5.68 billion, up 9.2% year-over-year, driven by strong demand for data storage, servers, netcomm products, and notebooks. The company appointed Hang Tan as Chief Strategy and Transformation Officer effective April 27. CDW paid a quarterly dividend of $0.630 per share on June 10, 2026. Analysts maintain an average Buy rating with a 12-month target of $147.30. Risk: stock still trades well below prior highs and macroeconomic softness in IT spending remains a headwind.
Previous Market Intelligence
13 daysJun 18No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 21No significant overnight updatesNeutral▶
No material news in the last 48 hours.
May 20CDW announces additional $1 billion share repurchase authorization following Q1 revenue beat.Positive▶
On May 13, 2026, CDW's board approved an additional $1 billion for its share repurchase program. The company also reported Q1 2026 results on May 6, with revenue of $5.68 billion (+9.2% YoY) beating estimates of $5.54 billion, though non-GAAP EPS of $2.28 missed consensus of $2.31 by $0.03. CEO Christine Leahy cited customers moving from AI exploration into production environments as a tailwind. CDW declared a $0.630 quarterly dividend payable June 10 to holders of record May 25. Insider Hang Tan received a 33,802-share RSU grant on May 13. Analyst consensus is Buy with average 12-month target of $148.25 (~48% upside from $104.50).
May 19CDW board authorizes additional $1B share repurchase on May 13 as Citi cuts PT to $123 despite Q1 sales beatMixed▶
On May 13, 2026, CDW announced its board approved an additional $1B for its share repurchase program and granted officer Hang Tan 33,802 restricted stock units. CDW reported Q1 2026 revenue of $5.68B, up 9.2% YoY and beating consensus, with non-GAAP EPS of $2.28 in line with expectations driven by robust AI infrastructure demand. The company plans to allocate $100M-$200M toward growth investments through 2027-2028 while targeting 200-300 bps of market outperformance. Despite the sales beat, the stock sold off on margin concerns. Analyst price targets were trimmed: Citi to $123 from $150 on May 8 and JPMorgan to $130 from $160. The median analyst price target stands at $155 among 6 analysts.
May 18CDW announced a $1 billion share repurchase program increase on May 13, 2026 following Q1 results that beat revenue estimates ($5.68B, +9.2% YoY) but missed EPS, prompting multiple analyst price target cuts.Mixed▶
CDW reported Q1 2026 revenue of $5.68B, up 9.2% YoY and beating estimates, driven by AI infrastructure demand, though non-GAAP EPS of $2.28 missed by $0.03. On May 13, 2026, the Board approved an additional $1B for share repurchases, complementing $484M remaining from the prior authorization. Several major analysts cut price targets following earnings: Citi to $123 (from $150) on May 8, JPMorgan to $130 (from $160), Evercore ISI to $160 (from $180), and UBS to $147 (from $162). Hang Tan joined as Chief Strategy and Transformation Officer reporting to CEO Christine Leahy. Stock dropped despite revenue beat.
May 15CDW board authorizes additional $1B buyback (May 13) on top of $484M remaining, after Q1 sales beat but operating-income missMixed▶
On May 13, 2026, CDW's board approved an additional $1 billion share repurchase authorization, complementing the ~$484M remaining from the prior program. The move follows Q1 2026 results on May 6 showing net sales up 9.2% YoY to $5.68B (beat) but adjusted operating income of $376M missing the $459.1M consensus, while adjusted EPS of $2.28 matched. Commercial segment grew 9.6% to $3.57B led by Financial Services (+28.2%), and UK/Canada combined rose 17.9%. CDW also announced a $0.63 dividend (May 22 ex-date) and appointed Hang Tan as Chief Strategy and Transformation Officer. Risk: multiple firms (Citi, JPMorgan, Evercore ISI, UBS, Barclays) cut price targets after the operating-income miss.
May 14CDW boosts buyback authorization by $1B on May 12 after Q1 beat, despite analyst PT cuts on margin concernsMixed▶
CDW Corporation announced on May 12, 2026 a $1 billion increase to its share repurchase program, incremental to approximately $484M remaining from the prior authorization. The company also declared a quarterly cash dividend of $0.630 per share payable June 10, 2026 to holders of record May 25. Q1 2026 earnings beat expectations with EPS of $2.28 vs $2.26 estimate and revenue of $5.7B vs $5.46B projection, representing 9.2% YoY revenue growth. Despite the strong results, multiple analysts including Citi, JPMorgan, Evercore ISI, UBS, and Barclays lowered their price targets in early May citing margin concerns and macro headwinds. Since its 2013 IPO, CDW has returned approximately $8.4B to shareholders through buybacks and dividends.
May 13CDW plunged 20% after Q1 EPS of $2.28 missed $2.31 estimate despite revenue beat of $5.68B, triggering broad analyst price target cutsNegative▶
CDW reported Q1 2026 results on May 6, 2026, with revenue of $5.68B (up 9.2% YoY, beating $5.54B estimate) but EPS of $2.28 missed the $2.31 consensus by $0.03. The stock fell 20% on May 6 with $140M trading volume amid margin pressure concerns. Commercial segment grew 9.6%, Government 4.6%, Education 2.5%. Multiple analysts slashed price targets on May 7-8: Citi to $123 from $150, JPMorgan to $130 from $160, Evercore ISI to $160 from $180, UBS to $147 from $162, Barclays to $123 from $144. Shares fell another 4.91% on May 8 to $104.79. The Board declared a $0.630 quarterly dividend payable June 10.
May 12CDW hit a 52-week low after analyst cut price target to $123 from $150 (Neutral) following margin compression in Q1 print.Negative▶
Although Q1 2026 revenue beat at $5.68B (up 9.2% YoY), CDW shares fell sharply (reports vary from -4.9% on May 8 to a steeper drop on the print) and touched a 52-week low after an analyst lowered the price target to $123 from $150 while maintaining Neutral. EPS of $2.28 missed the $2.31 consensus by three cents, and gross margin narrowed to 21% from 21.6% on a sales-mix shift toward hardware. The board declared a $0.630 quarterly dividend payable June 10. Bear case: persistent mix-driven margin pressure flagged by CFO Al Miralles suggests the EPS miss could repeat if hardware demand continues outpacing higher-margin services.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| CDWCDW | $128.40 | +1.34% | +2.4% | 11.4x | 0.96 | $17.0B |
| NVDANVIDIA | $210.83 | +3.02% | -2.1% | 15.3x | 2.21 | $4.72T |
| AAPLAPPLE | $298.37 | +0.82% | +5.3% | 32.1x | 1.10 | $4.53T |
| MSFTMICROSOFT | $379.59 | +0.18% | +6.8% | 20.2x | 1.13 | $2.90T |
| AVGOBROADCOM | $411.77 | +4.80% | -5.7% | 18.6x | 1.46 | $1.71T |
| MUMICRON | $1,134.07 | +8.71% | -7.0% | 6.5x | 2.14 | $1.10T |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price below 200d MA — bearish structure.