Denali Advisors LLC lessened its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 49.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,023 shares of the company's stock after selling 51,877 shares during the period. Denali Advisors LLC owned about 0.20% of PC Connection worth $3,310,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its stake in shares of 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 in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of PC Connection in the 4th quarter valued at about $40,000. Public Employees Retirement System of Ohio increased its stake in shares of PC Connection by 143.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock valued at $77,000 after purchasing an additional 657 shares in the last quarter. CWM LLC increased its stake in shares of 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 purchasing an additional 659 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 1,667 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.
PC Connection Price Performance
CNXN stock traded down $0.16 during trading on Friday, hitting $65.57. The stock had a trading volume of 52,725 shares, compared to its average volume of 98,038. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The stock has a market capitalization of $1.67 billion, a P/E ratio of 19.87, a PEG ratio of 1.89 and a beta of 0.69. The company's 50-day moving average price is $66.26 and its two-hundred day moving average price is $65.58.
PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.18. The business had revenue of $701.05 million for the quarter, compared to analysts' expectations of $646.37 million. PC Connection had a return on equity of 9.95% and a net margin of 3.04%. As a group, sell-side analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.
PC Connection Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Tuesday, May 13th. PC Connection's dividend payout ratio is currently 18.18%.
Insider Buying and Selling
In other news, Director Jack L. Ferguson sold 1,000 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the sale, the director owned 66,055 shares of the company's stock, valued at approximately $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Mcgrath sold 26,565 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the transaction, the chief executive officer owned 265,827 shares of the company's stock, valued at approximately $17,757,243.60. The trade was a 9.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,005 shares of company stock worth $2,205,614 over the last quarter. 55.20% of the stock is currently owned by insiders.
Analyst Ratings Changes
Separately, Wall Street Zen lowered PC Connection from a "strong-buy" rating to a "buy" rating in a research note on Friday, May 9th.
View Our Latest Stock Report on PC Connection
About PC Connection
(
Free Report)
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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