Cubist Systematic Strategies LLC Takes Position in PC Connection, Inc. $CNXN

Key Points

• Cubist Systematic Strategies LLC acquired 23,181 shares of PC Connection, Inc. valued at approximately $1.45 million, representing about 0.09% ownership in the company.
• PC Connection recently reported an earnings per share (EPS) of $0.97 for the last quarter, exceeding estimates, but its revenue fell short of expectations at $759.69 million.
• The company has announced a quarterly dividend of $0.15 per share, reflecting a 0.9% yield and a payout ratio of 18.29%.

Cubist Systematic Strategies LLC bought a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 23,181 shares of the company's stock, valued at approximately $1,447,000. Cubist Systematic Strategies LLC owned 0.09% of PC Connection at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CNXN. Vident Advisory LLC lifted its holdings in shares of PC Connection by 3.2% in the first quarter. Vident Advisory LLC now owns 7,157 shares of the company's stock worth $447,000 after buying an additional 223 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PC Connection by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company's stock valued at $456,000 after purchasing an additional 234 shares during the last quarter. Jane Street Group LLC raised its position in PC Connection by 1.7% during the 4th quarter. Jane Street Group LLC now owns 24,460 shares of the company's stock worth $1,694,000 after buying an additional 420 shares during the last quarter. Farther Finance Advisors LLC raised its position in PC Connection by 23,450.0% during the 1st quarter. Farther Finance Advisors LLC now owns 471 shares of the company's stock worth $30,000 after buying an additional 469 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of PC Connection by 12.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company's stock valued at $422,000 after purchasing an additional 652 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Down 3.0%

CNXN traded down $1.95 on Friday, reaching $63.20. The company's stock had a trading volume of 59,551 shares, compared to its average volume of 82,403. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.86 and a beta of 0.73. PC Connection, Inc. has a fifty-two week low of $56.72 and a fifty-two week high of $77.19. The stock has a 50 day moving average of $63.94 and a two-hundred day moving average of $64.03.

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

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 dividend on an annualized basis and a yield of 0.9%. PC Connection's dividend payout ratio (DPR) is 18.29%.

Analyst Upgrades and Downgrades

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

PC Connection Company 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.