XTX Topco Ltd purchased a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,226 shares of the company's stock, valued at approximately $1,263,000. XTX Topco Ltd owned about 0.08% of PC Connection as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in PC Connection by 26,952.8% in the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock valued at $8,443,000 after purchasing an additional 134,764 shares in the last quarter. Lazard Asset Management LLC raised its stake in PC Connection by 131.3% during the 4th quarter. Lazard Asset Management LLC now owns 41,687 shares of the company's stock valued at $2,887,000 after acquiring an additional 23,667 shares in the last quarter. Invesco Ltd. raised its stake in shares of PC Connection by 8.2% in the 4th quarter. Invesco Ltd. now owns 268,455 shares of the company's stock worth $18,596,000 after buying an additional 20,383 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PC Connection by 48.3% during the fourth quarter. JPMorgan Chase & Co. now owns 50,222 shares of the company's stock valued at $3,479,000 after buying an additional 16,352 shares in the last quarter. Finally, Rhumbline Advisers lifted its position in shares of PC Connection by 17.3% in the first quarter. Rhumbline Advisers now owns 100,200 shares of the company's stock worth $6,254,000 after buying an additional 14,768 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.
PC Connection Price Performance
Shares of CNXN traded down $0.81 during midday trading on Tuesday, hitting $59.05. The stock had a trading volume of 24,060 shares, compared to its average volume of 105,201. The company has a 50 day simple moving average of $65.21 and a two-hundred day simple moving average of $65.07. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.74 and a beta of 0.72. PC Connection, Inc. has a twelve month low of $56.72 and a twelve month high of $77.19.
PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.91 by $0.06. The firm had revenue of $759.69 million for the quarter, compared to the consensus estimate of $774.66 million. PC Connection had a return on equity of 9.74% and a net margin of 2.97%. Analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.
PC Connection Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Tuesday, August 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 12th. PC Connection's payout ratio is 18.29%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen cut PC Connection from a "buy" rating to a "hold" rating in a report on Saturday.
Read Our Latest Research Report on CNXN
Insider Activity at PC Connection
In other PC Connection news, Director Jack L. Ferguson sold 1,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the completion of the sale, the director directly owned 66,055 shares in the company, valued at $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mcgrath sold 5,440 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $67.05, for a total value of $364,752.00. Following the sale, the chief executive officer owned 260,387 shares of the company's stock, valued at $17,458,948.35. The trade was a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,005 shares of company stock valued at $2,205,614. 55.20% of the stock is currently owned by corporate insiders.
PC Connection Profile
(
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.
See Also
Before you consider PC Connection, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PC Connection wasn't on the list.
While PC Connection currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
MarketBeat All Access