CDW Co. (NASDAQ:CDW) Holdings Lowered by Fenimore Asset Management Inc

Fenimore Asset Management Inc lessened its stake in CDW Co. (NASDAQ:CDW - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,246,188 shares of the information technology services provider's stock after selling 8,071 shares during the quarter. CDW accounts for approximately 4.2% of Fenimore Asset Management Inc's holdings, making the stock its 3rd biggest position. Fenimore Asset Management Inc owned approximately 0.94% of CDW worth $199,714,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CDW. Strategic Financial Concepts LLC purchased a new position in CDW in the 4th quarter worth approximately $3,150,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of CDW by 0.4% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 333,296 shares of the information technology services provider's stock worth $58,007,000 after purchasing an additional 1,327 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of CDW by 13.6% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,611 shares of the information technology services provider's stock worth $2,891,000 after purchasing an additional 1,991 shares during the last quarter. Vest Financial LLC lifted its holdings in shares of CDW by 75.1% during the fourth quarter. Vest Financial LLC now owns 1,595 shares of the information technology services provider's stock valued at $278,000 after purchasing an additional 684 shares in the last quarter. Finally, Entropy Technologies LP boosted its position in shares of CDW by 1,168.1% during the fourth quarter. Entropy Technologies LP now owns 48,010 shares of the information technology services provider's stock valued at $8,356,000 after buying an additional 44,224 shares during the last quarter. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

NASDAQ:CDW traded down $1.00 on Thursday, hitting $174.75. The stock had a trading volume of 971,107 shares, compared to its average volume of 1,228,355. The business's 50-day simple moving average is $169.06 and its two-hundred day simple moving average is $175.82. The stock has a market cap of $23.01 billion, a price-to-earnings ratio of 21.93, a price-to-earnings-growth ratio of 3.21 and a beta of 0.95. CDW Co. has a 52-week low of $137.31 and a 52-week high of $241.26. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38.

CDW (NASDAQ:CDW - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.96 by $0.19. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.93 billion. CDW had a net margin of 5.13% and a return on equity of 55.42%. The firm's revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.92 earnings per share. As a group, research analysts predict that CDW Co. will post 9.41 earnings per share for the current year.

CDW Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Monday, May 26th were paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Friday, May 23rd. CDW's dividend payout ratio is presently 30.98%.

Insider Transactions at CDW

In other CDW news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $190.90, for a total transaction of $5,375,553.10. Following the transaction, the insider now owns 36,077 shares of the company's stock, valued at $6,887,099.30. The trade was a 43.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christine A. Leahy sold 40,917 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $181.42, for a total transaction of $7,423,162.14. Following the completion of the transaction, the insider now owns 144,931 shares of the company's stock, valued at approximately $26,293,382.02. The trade was a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. reduced their price objective on CDW from $222.00 to $175.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Barclays reduced their price target on shares of CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a research note on Thursday, May 8th. UBS Group decreased their price objective on shares of CDW from $236.00 to $210.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Finally, Citigroup increased their price objective on shares of CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $208.71.

About CDW

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.