Jacobs Levy Equity Management Inc. Acquires 89,429 Shares of PC Connection, Inc. $CNXN

Jacobs Levy Equity Management Inc. boosted its position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 446.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,460 shares of the company's stock after buying an additional 89,429 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.43% of PC Connection worth $6,832,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of PC Connection by 12.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company's stock worth $422,000 after acquiring an additional 652 shares during the last quarter. Jane Street Group LLC raised its position in PC Connection by 1.7% in the 4th quarter. Jane Street Group LLC now owns 24,460 shares of the company's stock worth $1,694,000 after purchasing an additional 420 shares during the period. Algert Global LLC lifted its stake in PC Connection by 38.3% in the fourth quarter. Algert Global LLC now owns 11,918 shares of the company's stock worth $826,000 after purchasing an additional 3,298 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of PC Connection by 33.9% during the fourth quarter. BNP Paribas Financial Markets now owns 5,693 shares of the company's stock valued at $394,000 after buying an additional 1,440 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of PC Connection by 96.9% during the fourth quarter. Deutsche Bank AG now owns 12,511 shares of the company's stock valued at $867,000 after buying an additional 6,158 shares during the period. Institutional investors own 42.85% of the company's stock.

PC Connection Stock Down 3.0%

NASDAQ:CNXN traded down $1.93 during midday trading on Friday, hitting $63.22. The stock had a trading volume of 30,206 shares, compared to its average volume of 102,001. The stock has a 50-day moving average of $64.02 and a 200 day moving average of $64.04. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.80 and a beta of 0.73. PC Connection, Inc. has a one year low of $56.72 and a one year high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $774.66 million. On average, sell-side analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, August 12th. PC Connection's dividend payout ratio is presently 18.29%.

Analyst Ratings Changes

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

About PC Connection

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.