CDW Corporation $CDW is Fenimore Asset Management Inc’s 8th Largest Position

Fenimore Asset Management Inc increased its stake in shares of CDW Corporation (NASDAQ:CDW) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,150,567 shares of the information technology services provider’s stock after purchasing an additional 9,485 shares during the quarter. CDW makes up 3.3% of Fenimore Asset Management Inc’s holdings, making the stock its 8th largest position. Fenimore Asset Management Inc’s holdings in CDW were worth $156,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Root Financial Partners LLC acquired a new position in CDW during the 3rd quarter valued at about $26,000. Empowered Funds LLC increased its holdings in shares of CDW by 1.2% in the first quarter. Empowered Funds LLC now owns 18,076 shares of the information technology services provider’s stock valued at $2,897,000 after purchasing an additional 216 shares during the period. Covestor Ltd increased its holdings in shares of CDW by 87.9% in the third quarter. Covestor Ltd now owns 483 shares of the information technology services provider’s stock valued at $77,000 after purchasing an additional 226 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of CDW by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 41,100 shares of the information technology services provider’s stock valued at $6,546,000 after purchasing an additional 255 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in shares of CDW by 30.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,188 shares of the information technology services provider’s stock valued at $162,000 after purchasing an additional 277 shares during the period. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CDW. Morgan Stanley increased their price objective on CDW from $141.00 to $142.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. UBS Group cut their price objective on CDW from $190.00 to $162.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. Weiss Ratings reissued a “hold (c-)” rating on shares of CDW in a report on Friday, April 24th. Citigroup increased their price objective on CDW from $148.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Finally, JPMorgan Chase & Co. cut their price objective on CDW from $170.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, February 5th. One investment 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $160.43.

CDW Stock Performance

NASDAQ CDW opened at $136.03 on Friday. The company has a market cap of $17.41 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.87 and a beta of 1.04. The stock’s 50 day simple moving average is $125.36 and its 200-day simple moving average is $135.04. CDW Corporation has a 1-year low of $112.98 and a 1-year high of $192.30. 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 (NASDAQ:CDW) last posted its quarterly earnings results on Wednesday, February 4th. The information technology services provider reported $2.57 EPS 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 during the quarter, compared to analysts’ expectations of $5.33 billion. During the same quarter last year, the firm earned $2.48 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, equities research analysts anticipate that CDW Corporation will post 10.01 EPS for the current fiscal year.

CDW Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors 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 payout ratio is currently 31.15%.

CDW Profile

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.