Fenimore Asset Management Inc Acquires 844 Shares of CDW Co. (NASDAQ:CDW)

Fenimore Asset Management Inc raised its holdings in shares of CDW Co. (NASDAQ:CDW) by 0.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,254,259 shares of the information technology services provider’s stock after buying an additional 844 shares during the period. CDW comprises 4.6% of Fenimore Asset Management Inc’s portfolio, making the stock its 3rd largest holding. Fenimore Asset Management Inc’s holdings in CDW were worth $218,291,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CDW. Massachusetts Financial Services Co. MA acquired a new position in CDW in the third quarter worth about $416,111,000. Janus Henderson Group PLC grew its position in shares of CDW by 7,029.1% in the 3rd quarter. Janus Henderson Group PLC now owns 1,466,597 shares of the information technology services provider’s stock worth $331,891,000 after acquiring an additional 1,446,025 shares in the last quarter. Holocene Advisors LP acquired a new position in shares of CDW in the 3rd quarter worth approximately $172,217,000. Perpetual Ltd bought a new stake in shares of CDW in the 3rd quarter valued at approximately $158,300,000. Finally, Assenagon Asset Management S.A. raised its position in shares of CDW by 7,549.9% during the 4th quarter. Assenagon Asset Management S.A. now owns 256,271 shares of the information technology services provider’s stock valued at $44,601,000 after acquiring an additional 252,921 shares in the last quarter. 93.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CDW has been the subject of several recent research reports. Redburn Atlantic started coverage on shares of CDW in a research note on Friday, November 15th. They set a “buy” rating and a $230.00 target price for the company. Citigroup downgraded shares of CDW from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $250.00 to $245.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. cut shares of CDW from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $260.00 to $235.00 in a report on Monday, October 28th. Barclays lowered their target price on CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a report on Thursday, October 31st. Finally, Morgan Stanley raised their price target on CDW from $190.00 to $193.00 and gave the stock an “equal weight” rating in a report on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $239.33.

CDW Stock Performance

Shares of NASDAQ CDW opened at $195.13 on Friday. CDW Co. has a 12-month low of $168.43 and a 12-month high of $263.37. The company has a current ratio of 1.40, a quick ratio of 1.28 and a debt-to-equity ratio of 2.39. The company has a market cap of $26.00 billion, a PE ratio of 23.85, a P/E/G ratio of 5.26 and a beta of 1.01. The stock has a 50 day simple moving average of $179.79 and a 200-day simple moving average of $204.53.

CDW (NASDAQ:CDW) last released its quarterly earnings results on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.68 by ($0.05). CDW had a return on equity of 58.31% and a net margin of 5.33%. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.72 billion. During the same period in the previous year, the company posted $2.60 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that CDW Co. will post 8.99 EPS for the current year.

CDW Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th were paid a dividend of $0.625 per share. This is a boost from CDW’s previous quarterly dividend of $0.62. The ex-dividend date was Monday, November 25th. This represents a $2.50 annualized dividend and a yield of 1.28%. CDW’s dividend payout ratio (DPR) is presently 30.56%.

CDW Company 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.