Barclays PLC Sells 7,087 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Barclays PLC lowered its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 19.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,915 shares of the company's stock after selling 7,087 shares during the period. Barclays PLC owned about 0.11% of PC Connection worth $2,003,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CNXN. New Age Alpha Advisors LLC acquired a new stake in shares of PC Connection during the fourth quarter valued at about $40,000. EntryPoint Capital LLC increased its holdings 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 purchasing an additional 248 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of PC Connection by 6.4% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company's stock valued at $370,000 after acquiring an additional 319 shares during the period. Sterling Capital Management LLC boosted its position in shares of PC Connection by 6.3% during the 4th quarter. Sterling Capital Management LLC now owns 5,609 shares of the company's stock worth $389,000 after purchasing an additional 331 shares in the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in PC Connection in the fourth quarter worth approximately $436,000. Institutional investors own 42.85% of the company's stock.

Wall Street Analyst Weigh In

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

PC Connection Price Performance

CNXN opened at $66.39 on Friday. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19. The company's 50-day moving average is $61.81 and its 200 day moving average is $67.56. The firm has a market capitalization of $1.72 billion, a P/E ratio of 20.18, a PEG ratio of 1.96 and a beta of 0.69.

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

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a $0.15 dividend. This is a boost from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Tuesday, February 25th. PC Connection's payout ratio is currently 18.24%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.