Bank of Nova Scotia Has $36.95 Million Stake in CDW Co. (NASDAQ:CDW)

Bank of Nova Scotia raised its position in CDW Co. (NASDAQ:CDW - Free Report) by 1,139.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,296 shares of the information technology services provider's stock after purchasing an additional 195,162 shares during the quarter. Bank of Nova Scotia owned 0.16% of CDW worth $36,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allworth Financial LP lifted its position in CDW by 39.7% during the 4th quarter. Allworth Financial LP now owns 183 shares of the information technology services provider's stock worth $32,000 after buying an additional 52 shares in the last quarter. OFI Invest Asset Management acquired a new position in CDW during the fourth quarter valued at approximately $32,000. Parkside Financial Bank & Trust grew its stake in CDW by 38.9% in the fourth quarter. Parkside Financial Bank & Trust now owns 207 shares of the information technology services provider's stock valued at $36,000 after purchasing an additional 58 shares in the last quarter. Canoe Financial LP raised its stake in shares of CDW by 68.3% during the 4th quarter. Canoe Financial LP now owns 276 shares of the information technology services provider's stock worth $48,000 after purchasing an additional 112 shares in the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new stake in shares of CDW during the 4th quarter worth approximately $66,000. 93.15% of the stock is owned by institutional investors and hedge funds.

CDW Price Performance

Shares of CDW traded up $1.51 during trading hours on Monday, hitting $150.31. 363,691 shares of the company were exchanged, compared to its average volume of 1,158,703. The company has a quick ratio of 1.24, a current ratio of 1.35 and a debt-to-equity ratio of 2.38. CDW Co. has a fifty-two week low of $137.31 and a fifty-two week high of $248.12. The company has a market cap of $19.91 billion, a price-to-earnings ratio of 18.86, a P/E/G ratio of 3.21 and a beta of 0.97. The firm's fifty day moving average is $172.21 and its 200 day moving average is $185.67.

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CDW (NASDAQ:CDW - Get Free Report) last issued its earnings results on Wednesday, February 5th. The information technology services provider reported $2.40 earnings per share for the quarter, beating analysts' consensus estimates of $2.33 by $0.07. CDW had a return on equity of 55.42% and a net margin of 5.13%. On average, equities analysts anticipate that CDW Co. will post 9.41 earnings per share for the current fiscal year.

CDW Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Tuesday, February 25th. CDW's dividend payout ratio is 31.37%.

CDW declared that its Board of Directors has initiated a share repurchase program on Wednesday, February 5th that permits the company to repurchase $750.00 million in shares. This repurchase authorization permits the information technology services provider to reacquire up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on CDW shares. UBS Group dropped their price target on shares of CDW from $233.00 to $220.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Barclays increased their price objective on shares of CDW from $201.00 to $223.00 and gave the company an "equal weight" rating in a research report on Thursday, February 6th. Finally, Morgan Stanley lifted their price target on CDW from $193.00 to $201.00 and gave the stock an "equal weight" rating in a report on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $235.50.

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.