CDW Corporation $CDW Shares Sold by Fenimore Asset Management Inc

Key Points

• Fenimore Asset Management Inc reduced its holdings in CDW Corporation by 8.8%, now owning approximately 1,136,423 shares which represent 4.1% of their investment portfolio.
• CDW Corporation reported a quarterly EPS of $2.60, beating expectations, with revenue of $5.98 billion, a 10.2% increase compared to the same quarter last year.
• The firm declared a quarterly dividend of $0.625 per share, resulting in a dividend yield of 1.6% and a payout ratio of 31.06%.

Fenimore Asset Management Inc trimmed its holdings in shares of CDW Corporation (NASDAQ:CDW - Free Report) by 8.8% in the second quarter, according to its most recent Form 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 comprises approximately 4.1% of Fenimore Asset Management Inc's investment portfolio, making the stock its 5th biggest position. Fenimore Asset Management Inc owned approximately 0.86% of CDW worth $202,954,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CDW. Envestnet Asset Management Inc. raised its position in shares of CDW by 20.8% during the first quarter. Envestnet Asset Management Inc. now owns 207,506 shares of the information technology services provider's stock worth $33,255,000 after purchasing an additional 35,737 shares during the period. Unison Asset Management LLC raised its holdings in CDW by 9.4% during the 1st quarter. Unison Asset Management LLC now owns 42,389 shares of the information technology services provider's stock worth $6,339,000 after buying an additional 3,657 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in CDW by 1.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 5,942 shares of the information technology services provider's stock valued at $963,000 after buying an additional 94 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in CDW by 8.7% during the first quarter. Sequoia Financial Advisors LLC now owns 19,995 shares of the information technology services provider's stock valued at $3,204,000 after buying an additional 1,604 shares in the last quarter. Finally, OneDigital Investment Advisors LLC acquired a new position in shares of CDW in the first quarter worth about $212,000. Institutional investors own 93.15% of the company's stock.

CDW Stock Performance

Shares of CDW stock opened at $159.27 on Monday. CDW Corporation has a fifty-two week low of $137.31 and a fifty-two week high of $226.79. The stock's 50-day moving average is $165.76 and its two-hundred day moving average is $169.22. The company has a debt-to-equity ratio of 2.28, a current ratio of 1.35 and a quick ratio of 1.22. The firm has a market cap of $20.87 billion, a P/E ratio of 19.79, a PEG ratio of 2.64 and a beta of 1.01.

CDW (NASDAQ:CDW - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The information technology services provider reported $2.60 EPS for the quarter, beating the consensus estimate of $2.49 by $0.11. The business had revenue of $5.98 billion during 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%.The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. Analysts predict that CDW Corporation will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CDW shares. Weiss Ratings restated a "hold (c)" rating on shares of CDW in a report on Saturday, September 27th. UBS Group lowered their price objective on shares of 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 report on Friday, July 11th. JPMorgan Chase & Co. raised their target price on CDW from $185.00 to $205.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Barclays dropped their price target on CDW from $205.00 to $176.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, CDW has an average rating of "Hold" and an average target price of $202.00.

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.

Want to see what other hedge funds are holding CDW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CDW Corporation (NASDAQ:CDW - Free Report).

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.