AQR Capital Management LLC Purchases 8,505 Shares of PC Connection, Inc. (NASDAQ:CNXN)

AQR Capital Management LLC boosted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 9.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,797 shares of the company's stock after acquiring an additional 8,505 shares during the period. AQR Capital Management LLC owned 0.38% of PC Connection worth $6,844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of CNXN. New Age Alpha Advisors LLC purchased a new position in shares of PC Connection during the fourth quarter valued at about $40,000. EntryPoint Capital LLC boosted its stake in PC Connection by 8.3% during the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after buying an additional 248 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in PC Connection during the 4th quarter valued at approximately $282,000. Tower Research Capital LLC TRC increased its stake in PC Connection by 156.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock worth $292,000 after acquiring an additional 2,570 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of PC Connection by 33.7% during the 4th quarter. Hsbc Holdings PLC now owns 4,968 shares of the company's stock worth $341,000 after acquiring an additional 1,252 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Up 0.1 %

CNXN traded up $0.07 on Friday, hitting $69.13. The company had a trading volume of 75,886 shares, compared to its average volume of 97,052. The company has a market cap of $1.76 billion, a PE ratio of 21.01, a PEG ratio of 1.96 and a beta of 0.67. The business's fifty day simple moving average is $62.40 and its 200 day simple moving average is $67.32. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The business had revenue of $701.05 million for the quarter, compared to the consensus estimate of $646.37 million. On average, analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. PC Connection's dividend payout ratio is 18.18%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of PC Connection from a "strong-buy" rating to a "buy" rating in a research note on Friday.

PC Connection Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.