Fenimore Asset Management Inc Has $156.71 Million Stock Position in CDW Corporation $CDW

Key Points

• Fenimore Asset Management raised its CDW stake to 1,150,567 shares valued at approximately $156.71 million, making CDW about 3.3% of its portfolio and its 8th-largest holding; overall institutional ownership of CDW is roughly 93.15%.
• CDW beat Q results (EPS $2.57 vs. $2.44 est., revenue $5.51B vs. $5.33B), pays a $0.63 quarterly dividend (≈1.9% yield), and holds a consensus analyst rating of Moderate Buy with an average price target of $160.43.

Fenimore Asset Management Inc increased its holdings in CDW Corporation (NASDAQ:CDW - Free Report) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,150,567 shares of the information technology services provider's stock after buying an additional 9,485 shares during the quarter. CDW comprises approximately 3.3% of Fenimore Asset Management Inc's portfolio, making the stock its 8th biggest position. Fenimore Asset Management Inc owned about 0.88% of CDW worth $156,707,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CDW. Jones Financial Companies Lllp boosted its position in CDW by 316.0% in the first quarter. Jones Financial Companies Lllp now owns 4,896 shares of the information technology services provider's stock worth $785,000 after purchasing an additional 3,719 shares during the last quarter. Empowered Funds LLC lifted its position in shares of CDW by 1.2% during the 1st quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider's stock valued at $2,897,000 after buying an additional 216 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of CDW by 0.6% during the 2nd quarter. California State Teachers Retirement System now owns 225,709 shares of the information technology services provider's stock valued at $40,309,000 after buying an additional 1,242 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of CDW by 1,339.7% during the 2nd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 49,380 shares of the information technology services provider's stock valued at $8,819,000 after buying an additional 45,950 shares in the last quarter. Finally, State of Tennessee Department of Treasury lifted its position in shares of CDW by 17.7% during the 2nd quarter. State of Tennessee Department of Treasury now owns 40,927 shares of the information technology services provider's stock valued at $7,309,000 after buying an additional 6,143 shares in the last quarter. 93.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CDW has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on CDW from $141.00 to $142.00 and gave the company an "equal weight" rating in a research report on Thursday, February 5th. JPMorgan Chase & Co. lowered their price objective on CDW from $170.00 to $160.00 and set a "neutral" rating on the stock in a research report on Thursday, February 5th. Citigroup lifted their price objective on CDW from $148.00 to $150.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. UBS Group lowered their price objective on CDW from $190.00 to $162.00 and set a "buy" rating on the stock in a research report on Thursday, February 5th. Finally, Evercore reaffirmed an "outperform" rating and set a $180.00 price objective on shares of CDW in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, CDW presently has a consensus rating of "Moderate Buy" and a consensus price target of $160.43.

CDW Stock Performance

NASDAQ:CDW opened at $136.03 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.18 and a quick ratio of 1.10. CDW Corporation has a 1 year low of $112.98 and a 1 year high of $192.30. The stock's 50 day simple moving average is $125.36 and its two-hundred day simple moving average is $135.04. The company has a market cap of $17.41 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 1.87 and a beta of 1.04.

CDW (NASDAQ:CDW - Get Free Report) last released its earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.13. CDW had a return on equity of 50.66% and a net margin of 4.76%.The firm had revenue of $5.51 billion for the quarter, compared to the consensus estimate of $5.33 billion. During the same quarter in the previous year, the company posted $2.48 EPS. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts anticipate that CDW Corporation will post 10.01 earnings per share for the current fiscal year.

CDW Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Wednesday, February 25th. CDW's dividend payout ratio is currently 31.15%.

About CDW

CDW NASDAQ: CDW is a leading provider of information technology products and integrated solutions for business, government, education and healthcare customers. The company sources and resells hardware and software from major technology vendors and packages those products with professional services, managed services and lifecycle support. Its offerings span IT infrastructure, cloud and data center solutions, cybersecurity, networking, unified communications, endpoint devices, and software licensing and procurement services designed to simplify IT operations for customers.

CDW combines a broad product portfolio with consultative sales, implementation and technical support capabilities.

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