Fenimore Asset Management Inc Sells 109,765 Shares of CDW Corporation $CDW

Fenimore Asset Management Inc trimmed its stake in CDW Corporation (NASDAQ:CDW) by 8.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,136,423 shares of the information technology services provider’s stock after selling 109,765 shares during the period. CDW accounts for about 4.1% of Fenimore Asset Management Inc’s investment portfolio, making the stock its 5th largest position. Fenimore Asset Management Inc’s holdings in CDW were worth $202,954,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in CDW. Vanguard Group Inc. raised its position in shares of CDW by 0.4% in the first quarter. Vanguard Group Inc. now owns 16,746,334 shares of the information technology services provider’s stock valued at $2,683,767,000 after purchasing an additional 72,550 shares during the period. Select Equity Group L.P. grew its stake in CDW by 5.6% in the 1st quarter. Select Equity Group L.P. now owns 3,695,937 shares of the information technology services provider’s stock valued at $592,311,000 after buying an additional 195,511 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in CDW by 15.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,792,934 shares of the information technology services provider’s stock worth $447,596,000 after acquiring an additional 378,841 shares during the period. Invesco Ltd. raised its holdings in CDW by 1.9% in the 1st quarter. Invesco Ltd. now owns 2,471,963 shares of the information technology services provider’s stock worth $396,157,000 after acquiring an additional 45,217 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in CDW by 444.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,632,119 shares of the information technology services provider’s stock worth $261,564,000 after acquiring an additional 1,332,454 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

CDW Price Performance

Shares of CDW stock opened at $159.27 on Monday. CDW Corporation has a 12 month low of $137.31 and a 12 month high of $226.79. The company has a market capitalization of $20.87 billion, a P/E ratio of 19.79, a P/E/G ratio of 2.64 and a beta of 1.01. The stock has a 50 day moving average of $165.76 and a two-hundred day moving average of $169.22. The company has a current ratio of 1.35, a quick ratio of 1.22 and a debt-to-equity ratio of 2.28.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, August 6th. The information technology services provider reported $2.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.11. The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.51 billion. CDW had a return on equity of 53.63% and a net margin of 4.92%.CDW’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 earnings per share. As a group, equities analysts expect that CDW Corporation will post 9.41 EPS for the current year.

CDW Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 25th were paid a $0.625 dividend. The ex-dividend date was Monday, August 25th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 1.6%. CDW’s dividend payout ratio is currently 31.06%.

Analyst Ratings Changes

CDW has been the topic of several research analyst reports. UBS Group lowered their price target on CDW from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Citigroup increased their target price on CDW from $180.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, July 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of CDW in a research report on Saturday, September 27th. Barclays cut their price target on CDW from $205.00 to $176.00 and set an “equal weight” rating for the company in a report on Thursday, August 7th. Finally, JPMorgan Chase & Co. raised their price objective on shares of CDW from $185.00 to $205.00 and gave the stock a “neutral” rating in a research note on Thursday, July 17th. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.00.

CDW Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.