PC Connection, Inc. $CNXN Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in PC Connection, Inc. by 7.7% in Q1, acquiring an additional 23,082 shares, bringing its total ownership to 1.26% valued at $20,032,000.
• Insiders recently sold a total of 33,005 shares valued at $2,205,614, with 55.20% of the stock currently owned by corporate insiders.
• PC Connection announced a quarterly dividend of $0.15 per share, with an ex-dividend date of August 12th, representing a 0.9% dividend yield.

American Century Companies Inc. boosted its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 7.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 320,915 shares of the company's stock after purchasing an additional 23,082 shares during the period. American Century Companies Inc. owned about 1.26% of PC Connection worth $20,032,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in PC Connection by 23,450.0% in the 1st quarter. Farther Finance Advisors LLC now owns 471 shares of the company's stock valued at $30,000 after purchasing an additional 469 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of PC Connection by 6,900.0% during the first quarter. Russell Investments Group Ltd. now owns 980 shares of the company's stock worth $61,000 after acquiring an additional 966 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of PC Connection by 143.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock worth $77,000 after acquiring an additional 657 shares during the period. CWM LLC increased its position in shares of PC Connection by 67.4% during the first quarter. CWM LLC now owns 1,637 shares of the company's stock worth $102,000 after acquiring an additional 659 shares during the period. Finally, GAMMA Investing LLC increased its position in shares of PC Connection by 333.4% during the first quarter. GAMMA Investing LLC now owns 2,167 shares of the company's stock worth $135,000 after acquiring an additional 1,667 shares during the period. Institutional investors and hedge funds own 42.85% of the company's stock.

PC Connection Trading Down 1.1%

Shares of CNXN stock traded down $0.70 on Thursday, reaching $63.91. 26,316 shares of the stock were exchanged, compared to its average volume of 103,032. PC Connection, Inc. has a twelve month low of $56.72 and a twelve month high of $77.19. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.81 and a beta of 0.72. The business's 50 day moving average price is $64.38 and its 200 day moving average price is $64.09.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. The company had revenue of $759.69 million during the quarter, compared to the consensus estimate of $774.66 million. Equities research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 12th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, August 12th. PC Connection's dividend payout ratio is currently 18.29%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered PC Connection from a "buy" rating to a "hold" rating in a research 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.