AQR Capital Management LLC Grows Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

AQR Capital Management LLC raised its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,797 shares of the company's stock after buying an additional 8,505 shares during the period. AQR Capital Management LLC owned about 0.38% of PC Connection worth $6,844,000 at the end of the most recent reporting period.

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

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 Price Performance

CNXN stock traded up $1.10 during trading on Tuesday, reaching $70.96. The company had a trading volume of 8,795 shares, compared to its average volume of 96,721. PC Connection, Inc. has a 52 week low of $56.82 and a 52 week high of $77.19. The company has a market cap of $1.80 billion, a P/E ratio of 21.57, a PEG ratio of 1.96 and a beta of 0.67. The business has a 50 day moving average of $62.51 and a 200 day moving average of $67.31.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) 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 firm had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. Research analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current 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 issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.85%. PC Connection's payout ratio is 18.18%.

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.