Fenimore Asset Management Inc Acquires 844 Shares of CDW Co. (NASDAQ:CDW)

Fenimore Asset Management Inc increased its stake in shares of CDW Co. (NASDAQ:CDW) by 0.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,254,259 shares of the information technology services provider’s stock after purchasing an additional 844 shares during the period. CDW accounts for about 4.6% of Fenimore Asset Management Inc’s holdings, making the stock its 3rd biggest position. Fenimore Asset Management Inc owned about 0.94% of CDW worth $218,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sei Investments Co. grew its holdings in shares of CDW by 10.6% during the second quarter. Sei Investments Co. now owns 29,927 shares of the information technology services provider’s stock worth $6,699,000 after buying an additional 2,867 shares in the last quarter. Bank of Montreal Can grew its stake in CDW by 4.2% in the 2nd quarter. Bank of Montreal Can now owns 190,507 shares of the information technology services provider’s stock worth $43,123,000 after acquiring an additional 7,705 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in CDW by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,704 shares of the information technology services provider’s stock valued at $5,754,000 after acquiring an additional 9,710 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of CDW by 8.8% during the 2nd quarter. AQR Capital Management LLC now owns 58,585 shares of the information technology services provider’s stock worth $13,114,000 after purchasing an additional 4,720 shares during the period. Finally, APG Asset Management US Inc. purchased a new stake in shares of CDW in the second quarter valued at $307,000. Hedge funds and other institutional investors own 93.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group reduced their target price on CDW from $233.00 to $220.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays lowered their target price on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and cut their price target for the stock from $250.00 to $245.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley upped their price objective on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

CDW Stock Performance

Shares of CDW stock opened at $195.13 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market cap of $26.00 billion, a PE ratio of 23.85, a P/E/G ratio of 5.26 and a beta of 1.01. The company’s fifty day simple moving average is $179.79 and its 200-day simple moving average is $204.53. CDW Co. has a 52 week low of $168.43 and a 52 week high of $263.37.

CDW (NASDAQ:CDW) last released its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 EPS for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.72 billion. During the same period last year, the business earned $2.60 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 25th were given a dividend of $0.625 per share. The ex-dividend date was Monday, November 25th. This is a positive change from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.28%. CDW’s payout ratio is 30.56%.

CDW Company 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.