CDW Co. (NASDAQ:CDW) Shares Sold by Fenimore Asset Management Inc

Fenimore Asset Management Inc decreased its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,246,188 shares of the information technology services provider's stock after selling 8,071 shares during the quarter. CDW comprises about 4.2% of Fenimore Asset Management Inc's portfolio, 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 quarter.

A number of other institutional investors have also recently made changes to their positions in CDW. D. E. Shaw & Co. Inc. lifted its position in CDW by 906.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,024,887 shares of the information technology services provider's stock worth $352,411,000 after acquiring an additional 1,823,788 shares during the period. Alyeska Investment Group L.P. lifted its position in CDW by 17,349.6% during the 4th quarter. Alyeska Investment Group L.P. now owns 1,380,787 shares of the information technology services provider's stock worth $240,312,000 after acquiring an additional 1,372,874 shares during the period. Norges Bank acquired a new stake in CDW during the 4th quarter worth about $144,826,000. Madison Investment Advisors LLC acquired a new stake in CDW during the 4th quarter worth about $130,996,000. Finally, Proficio Capital Partners LLC lifted its position in CDW by 18,259.3% during the 4th quarter. Proficio Capital Partners LLC now owns 687,189 shares of the information technology services provider's stock worth $119,598,000 after acquiring an additional 683,446 shares during the period. Institutional investors and hedge funds own 93.15% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on CDW shares. UBS Group lowered their price target on CDW from $236.00 to $210.00 and set a "buy" rating for the company in a research report on Thursday, May 8th. Citigroup boosted their price objective on CDW from $160.00 to $180.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. decreased 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. Finally, Barclays decreased their price objective on CDW from $223.00 to $205.00 and set an "equal weight" rating for the company in a report on Thursday, May 8th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, CDW has an average rating of "Hold" and a consensus price target of $208.71.

Insider Buying and Selling

In related news, insider Frederick J. Kulevich sold 28,159 shares of CDW stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $190.90, for a total value of $5,375,553.10. Following the sale, the insider now directly owns 36,077 shares in the company, valued at approximately $6,887,099.30. The trade was a 43.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christine A. Leahy sold 40,917 shares of the business'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 value of $7,423,162.14. Following the transaction, the insider now owns 144,931 shares in the company, valued at approximately $26,293,382.02. This represents a 22.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by insiders.

CDW Price Performance

Shares of CDW stock opened at $178.24 on Monday. 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 Co. has a twelve month low of $137.31 and a twelve month high of $241.26. The business has a 50-day moving average price of $167.63 and a 200 day moving average price of $175.81. The firm has a market cap of $23.47 billion, a PE ratio of 22.36, a P/E/G ratio of 3.21 and a beta of 0.95.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The information technology services provider reported $2.15 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.19. CDW had a return on equity of 55.42% and a net margin of 5.13%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the business earned $1.92 EPS. CDW's revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts predict that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Monday, May 26th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 1.40%. The ex-dividend date of this dividend is Friday, May 23rd. CDW's payout ratio is 30.98%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.