Fenimore Asset Management Inc. increased its position in shares of CDW Corp. (NASDAQ:CDW) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 2,007,101 shares of the company’s stock after buying an additional 9,625 shares during the period. CDW Corp. makes up about 4.4% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 2nd largest position. Fenimore Asset Management Inc.’s holdings in CDW Corp. were worth $91,785,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in CDW. IFP Advisors Inc increased its position in shares of CDW Corp. by 9.4% in the first quarter. IFP Advisors Inc now owns 2,819 shares of the company’s stock worth $117,000 after buying an additional 242 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in shares of CDW Corp. by 6.8% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 3,814 shares of the company’s stock worth $138,000 after buying an additional 242 shares during the period. American International Group Inc. increased its position in shares of CDW Corp. by 10.6% in the second quarter. American International Group Inc. now owns 4,011 shares of the company’s stock worth $161,000 after buying an additional 383 shares during the period. Pictet Asset Management Ltd. increased its position in shares of CDW Corp. by 0.7% in the second quarter. Pictet Asset Management Ltd. now owns 55,000 shares of the company’s stock worth $2,341,000 after buying an additional 400 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of CDW Corp. by 7.5% in the third quarter. Raymond James Trust N.A. now owns 6,018 shares of the company’s stock worth $275,000 after buying an additional 419 shares during the period. Institutional investors own 90.24% of the company’s stock.
Shares of CDW Corp. (NASDAQ:CDW) traded up 1.06% during mid-day trading on Wednesday, hitting $44.74. The stock had a trading volume of 205,429 shares. CDW Corp. has a one year low of $30.40 and a one year high of $47.50. The firm has a 50 day moving average of $45.12 and a 200-day moving average of $42.76. The stock has a market cap of $7.31 billion, a P/E ratio of 17.37 and a beta of 0.95.
CDW Corp. (NASDAQ:CDW) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.08. The company earned $3.66 billion during the quarter, compared to analysts’ expectations of $3.65 billion. CDW Corp. had a return on equity of 46.02% and a net margin of 3.18%. CDW Corp.’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. Equities research analysts expect that CDW Corp. will post $3.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Thursday, August 25th were given a dividend of $0.1075 per share. This represents a $0.43 annualized dividend and a yield of 0.97%. The ex-dividend date was Tuesday, August 23rd. CDW Corp.’s dividend payout ratio is currently 16.80%.
A number of brokerages recently issued reports on CDW. Deutsche Bank AG boosted their price objective on CDW Corp. from $43.00 to $48.00 and gave the company a “buy” rating in a research note on Thursday, August 4th. Zacks Investment Research downgraded CDW Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 8th. RBC Capital Markets upped their price target on CDW Corp. to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. Raymond James Financial Inc. restated a “market perform” rating on shares of CDW Corp. in a research note on Tuesday, August 2nd. Finally, Barclays PLC restated an “overweight” rating and issued a $47.00 price target on shares of CDW Corp. in a research note on Friday, July 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.27.
About CDW Corp.
CDW Corporation (CDW) provides integrated information technology (IT) solutions. The Company’s segments include Corporate, Public and Other. The Corporate segment consists of private sector business customers. The Corporate segment is divided into a medium/large business customer channel, serving customers with approximately 100 employees and a small business customer channel, serving customers with over 100 employees.
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