PC Connection, Inc. $CNXN Stock Holdings Decreased by Invesco Ltd.

Key Points

• Invesco Ltd. reduced its stake in PC Connection, Inc. by 34.7%, owning 175,341 shares worth approximately $10.9 million after selling 93,114 shares.
• PC Connection recently reported quarterly earnings of $0.97 per share, exceeding estimates of $0.91, while revenue fell short of expectations at $759.69 million.
• The firm announced a quarterly dividend of $0.15 per share set to be paid on August 29, providing an annualized yield of 0.9%.

Invesco Ltd. decreased its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 34.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 175,341 shares of the company's stock after selling 93,114 shares during the period. Invesco Ltd. owned about 0.69% of PC Connection worth $10,945,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC grew its stake in shares of PC Connection by 26,952.8% during the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock worth $8,443,000 after purchasing an additional 134,764 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of PC Connection by 131.3% in the fourth quarter. Lazard Asset Management LLC now owns 41,687 shares of the company's stock valued at $2,887,000 after buying an additional 23,667 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of PC Connection in the first quarter valued at about $1,263,000. Rhumbline Advisers raised its holdings in shares of PC Connection by 17.3% in the first quarter. Rhumbline Advisers now owns 100,200 shares of the company's stock valued at $6,254,000 after buying an additional 14,768 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of PC Connection by 12.7% in the fourth quarter. Nuveen Asset Management LLC now owns 113,261 shares of the company's stock valued at $7,846,000 after buying an additional 12,795 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

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

PC Connection Stock Performance

NASDAQ CNXN traded up $0.07 during mid-day trading on Friday, reaching $64.21. 76,314 shares of the stock were exchanged, compared to its average volume of 84,628. PC Connection, Inc. has a 1-year low of $56.72 and a 1-year high of $77.19. The business's fifty day simple moving average is $64.36 and its 200 day simple moving average is $64.08. The stock has a market capitalization of $1.63 billion, a PE ratio of 19.58, a PEG ratio of 1.83 and a beta of 0.72.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.91 by $0.06. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. The business had revenue of $759.69 million for the quarter, compared to the consensus estimate of $774.66 million. On average, analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

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