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

Fenimore Asset Management Inc. reduced its holdings in CDW Co. (NASDAQ:CDW - Free Report) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,262,117 shares of the information technology services provider's stock after selling 11,431 shares during the quarter. CDW makes up 6.7% of Fenimore Asset Management Inc.'s portfolio, making the stock its biggest position. Fenimore Asset Management Inc. owned approximately 0.94% of CDW worth $286,904,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Raymond James Financial Services Advisors Inc. lifted its stake in CDW by 16.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,011 shares of the information technology services provider's stock valued at $11,141,000 after buying an additional 6,799 shares during the last quarter. Pacer Advisors Inc. grew its holdings in CDW by 84.9% in the 4th quarter. Pacer Advisors Inc. now owns 15,924 shares of the information technology services provider's stock worth $3,620,000 after buying an additional 7,310 shares in the last quarter. JGP Wealth Management LLC acquired a new stake in CDW in the 4th quarter valued at approximately $1,559,000. California Public Employees Retirement System raised its stake in CDW by 1.0% during the 3rd quarter. California Public Employees Retirement System now owns 819,011 shares of the information technology services provider's stock valued at $165,244,000 after acquiring an additional 7,854 shares in the last quarter. Finally, Comerica Bank acquired a new position in CDW during the 2nd quarter worth $532,100,000. Institutional investors own 93.15% of the company's stock.

CDW Trading Down 0.6 %

CDW stock traded down $1.43 during mid-day trading on Tuesday, reaching $251.63. 477,352 shares of the stock traded hands, compared to its average volume of 711,144. The stock's fifty day moving average is $243.66 and its 200-day moving average is $223.78. The company has a market cap of $33.77 billion, a P/E ratio of 31.07, a P/E/G ratio of 2.90 and a beta of 1.09. The company has a current ratio of 1.23, a quick ratio of 1.11 and a debt-to-equity ratio of 2.46. CDW Co. has a 52-week low of $160.66 and a 52-week high of $259.38.

CDW (NASDAQ:CDW - Get Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The information technology services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.56 by $0.01. CDW had a net margin of 5.17% and a return on equity of 73.93%. The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $5.32 billion. During the same quarter in the prior year, the firm earned $2.40 EPS. The firm's quarterly revenue was down 7.7% on a year-over-year basis. As a group, sell-side analysts expect that CDW Co. will post 9.88 earnings per share for the current year.

CDW Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Monday, February 26th were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, February 23rd. CDW's payout ratio is 30.62%.

CDW announced that its board has initiated a share repurchase program on Wednesday, February 7th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the information technology services provider to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CDW shares. JPMorgan Chase & Co. raised their price target on CDW from $253.00 to $267.00 and gave the company an "overweight" rating in a report on Thursday, February 8th. Barclays increased their price objective on shares of CDW from $219.00 to $261.00 and gave the company an "equal weight" rating in a report on Thursday, February 8th. Morgan Stanley downgraded CDW from an "overweight" rating to an "equal weight" rating and set a $216.00 target price for the company. in a research report on Tuesday, December 12th. Finally, Evercore ISI lifted their price target on CDW from $250.00 to $300.00 and gave the company an "outperform" rating in a research report on Friday, March 22nd. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $228.60.

CDW 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.