Dimensional Fund Advisors LP decreased its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,806,717 shares of the company's stock after selling 51,940 shares during the quarter. Dimensional Fund Advisors LP owned about 6.87% of PC Connection worth $125,151,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in shares of PC Connection by 25.6% during the 4th quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company's stock valued at $7,974,000 after buying an additional 23,497 shares during the period. Geode Capital Management LLC increased its stake in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after acquiring an additional 23,358 shares during the last quarter. Barclays PLC lifted its stake in shares of PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company's stock valued at $2,717,000 after purchasing an additional 23,084 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of PC Connection by 54.2% during the 4th quarter. Prudential Financial Inc. now owns 58,431 shares of the company's stock worth $4,099,000 after purchasing an additional 20,534 shares during the period. Finally, Invesco Ltd. increased its position in shares of PC Connection by 8.2% during the 4th quarter. Invesco Ltd. now owns 268,455 shares of the company's stock worth $18,596,000 after purchasing an additional 20,383 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.
PC Connection Price Performance
Shares of CNXN stock traded up $1.45 during trading hours on Friday, hitting $67.84. The company had a trading volume of 18,049 shares, compared to its average volume of 96,594. The stock has a market capitalization of $1.76 billion, a PE ratio of 20.60, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The company's fifty day moving average is $61.81 and its 200 day moving average is $67.56. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19.
PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.18. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. The company had revenue of $701.05 million for the quarter, compared to analysts' expectations of $646.37 million. Equities analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.
PC Connection Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. This is a boost from PC Connection's previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. PC Connection's dividend payout ratio (DPR) is 18.18%.
Analyst Ratings Changes
Separately, StockNews.com raised shares of PC Connection from a "buy" rating to a "strong-buy" rating in a research report on Thursday.
Check Out Our Latest Analysis on CNXN
About PC Connection
(
Free Report)
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.
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