Denali Advisors LLC Boosts Stake in PC Connection, Inc. $CNXN

Key Points

• Denali Advisors LLC raised its stake in PC Connection, Inc. (NASDAQ:CNXN) by 25.7% in the second quarter, now owning 66,631 shares valued at approximately $4.38 million.
• Institutional investors own 42.85% of PC Connection's stock, with notable increases from several firms including Parallel Advisors LLC (74.3%) and Farther Finance Advisors LLC (23,450%).
• The company's most recent earnings report showed an EPS of $0.97, exceeding expectations, along with a recent quarterly dividend of $0.15 per share, representing a 1.0% yield.

Denali Advisors LLC raised its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 25.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 66,631 shares of the company's stock after buying an additional 13,608 shares during the period. Denali Advisors LLC owned 0.26% of PC Connection worth $4,383,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its stake in PC Connection by 74.3% in the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company's stock valued at $29,000 after buying an additional 191 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 buying an additional 469 shares during the last quarter. Russell Investments Group Ltd. increased its stake in PC Connection by 6,900.0% in the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company's stock valued at $61,000 after buying an additional 966 shares during the last quarter. CWM LLC increased its stake in PC Connection by 67.4% in the 1st quarter. CWM LLC now owns 1,637 shares of the company's stock valued at $102,000 after buying an additional 659 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in PC Connection by 333.4% in the 1st quarter. GAMMA Investing LLC now owns 2,167 shares of the company's stock valued at $135,000 after buying an additional 1,667 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of PC Connection in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of PC Connection from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold".

PC Connection Trading Up 0.5%

CNXN opened at $62.48 on Wednesday. The company has a 50 day moving average of $62.61 and a 200 day moving average of $63.87. The company has a market cap of $1.59 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.77 and a beta of 0.70. PC Connection, Inc. has a 12 month low of $56.72 and a 12 month high of $75.84.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The company 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%. Research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently disclosed 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 yield of 1.0%. PC Connection's dividend payout ratio (DPR) is 18.29%.

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.

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