PC Connection, Inc. $CNXN Stake Reduced by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in PC Connection, Inc. by 56.0%, owning 4,667 shares worth $291,000 after selling 5,949 shares in the first quarter.
• PC Connection recently declared a quarterly dividend of $0.15 per share, with an annualized dividend of $0.60, resulting in a yield of 0.9%.
• The company reported a quarterly EPS of $0.97, exceeding analysts' expectations, while total revenue was $759.69 million, below the forecast of $774.66 million.

AlphaQuest LLC cut its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 56.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,667 shares of the company's stock after selling 5,949 shares during the period. AlphaQuest LLC's holdings in PC Connection were worth $291,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CNXN. MetLife Investment Management LLC increased its position in shares of PC Connection by 9.7% during the fourth quarter. MetLife Investment Management LLC now owns 7,082 shares of the company's stock valued at $491,000 after buying an additional 624 shares during the period. Tower Research Capital LLC TRC increased its stake in PC Connection by 156.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock valued at $292,000 after purchasing an additional 2,570 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of PC Connection by 33.7% during the fourth quarter. Hsbc Holdings PLC now owns 4,968 shares of the company's stock valued at $341,000 after buying an additional 1,252 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in PC Connection by 12.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company's stock worth $422,000 after purchasing an additional 652 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in PC Connection during the fourth quarter valued at approximately $282,000. Institutional investors own 42.85% of the company's stock.

PC Connection Trading Up 0.2%

Shares of CNXN stock traded up $0.13 on Wednesday, reaching $64.23. 9,443 shares of the stock were exchanged, compared to its average volume of 102,493. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 1.83 and a beta of 0.73. The business's 50 day moving average price is $64.26 and its 200 day moving average price is $64.06. 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.06. The business had revenue of $759.69 million during the quarter, compared to the consensus estimate of $774.66 million. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. Equities research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. PC Connection's dividend payout ratio (DPR) is presently 18.29%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut PC Connection from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd.

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.