Jacobs Levy Equity Management Inc. Grows Stake in PC Connection, Inc. $CNXN

Jacobs Levy Equity Management Inc. grew its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 446.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,460 shares of the company's stock after purchasing an additional 89,429 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.43% of PC Connection worth $6,832,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vident Advisory LLC lifted its stake in shares of PC Connection by 3.2% during 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PC Connection by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company's stock worth $456,000 after buying an additional 234 shares during the period. Jane Street Group LLC lifted its stake in shares of PC Connection by 1.7% during the fourth 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 period. Farther Finance Advisors LLC lifted its stake in shares of PC Connection by 23,450.0% during the first 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 period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of PC Connection by 12.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company's stock worth $422,000 after buying an additional 652 shares during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Trading Down 3.0%

CNXN traded down $1.95 on Friday, reaching $63.20. The stock had a trading volume of 59,551 shares, compared to its average volume of 82,403. PC Connection, Inc. has a 12-month low of $56.72 and a 12-month high of $77.19. The business's 50-day moving average price is $63.94 and its two-hundred day moving average price is $64.03. The company has a market cap of $1.60 billion, a P/E ratio of 19.27, a price-to-earnings-growth ratio of 1.86 and a beta of 0.73.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data 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 net margin of 2.97% and a return on equity of 9.74%. The company had revenue of $759.69 million during the quarter, compared to analysts' expectations of $774.66 million. As a group, analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The company also recently disclosed 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 payout ratio is presently 18.29%.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of PC Connection from a "buy" rating to a "hold" rating in a research report 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.