PC Connection, Inc. $CNXN Position Increased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in PC Connection, Inc. by 25.8%, now owning 124,258 shares valued at approximately $7.76 million.
• Other institutional investors made significant increases in their holdings, with Farther Finance Advisors LLC raising their stake by 23,450% during the 1st quarter.
• PC Connection recently announced a $0.15 quarterly dividend, resulting in a 0.9% yield, and reported EPS of $0.97, exceeding analyst expectations.

AQR Capital Management LLC boosted its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 25.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,258 shares of the company's stock after purchasing an additional 25,461 shares during the period. AQR Capital Management LLC owned about 0.49% of PC Connection worth $7,756,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNXN. 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 during the last quarter. Nuveen LLC bought a new position in PC Connection during the 1st quarter worth approximately $2,190,000. Lazard Asset Management LLC lifted its holdings in PC Connection by 131.3% during the 4th quarter. Lazard Asset Management LLC now owns 41,687 shares of the company's stock worth $2,887,000 after buying an additional 23,667 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in PC Connection during the 1st quarter worth approximately $1,447,000. Finally, American Century Companies Inc. lifted its holdings in PC Connection by 7.7% during the 1st quarter. American Century Companies Inc. now owns 320,915 shares of the company's stock worth $20,032,000 after buying an additional 23,082 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

Wall Street Analyst Weigh In

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

PC Connection Stock Performance

Shares of PC Connection stock traded down $0.23 on Wednesday, reaching $62.85. 93,534 shares of the company were exchanged, compared to its average volume of 84,106. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 1.80 and a beta of 0.73. PC Connection, Inc. has a 1-year low of $56.72 and a 1-year high of $77.19. The company's 50-day moving average is $63.70 and its two-hundred day moving average is $64.02.

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, topping the consensus estimate of $0.91 by $0.06. The business 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%. As a group, sell-side 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. Investors of record on Tuesday, August 12th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. PC Connection's dividend payout ratio (DPR) is 18.29%.

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.