Nuveen Asset Management LLC Has $7.85 Million Position in PC Connection, Inc. (NASDAQ:CNXN)

Nuveen Asset Management LLC grew its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 12.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,261 shares of the company's stock after purchasing an additional 12,795 shares during the period. Nuveen Asset Management LLC owned approximately 0.43% of PC Connection worth $7,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC raised its position 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 purchasing an additional 23,667 shares during the period. Teacher Retirement System of Texas raised its position in shares of PC Connection by 25.6% during the fourth quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company's stock valued at $7,974,000 after buying an additional 23,497 shares during the last quarter. Barclays PLC lifted its stake in shares of PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company's stock valued at $2,717,000 after buying an additional 23,084 shares during the period. Prudential Financial Inc. grew its position in PC Connection by 54.2% during the fourth quarter. Prudential Financial Inc. now owns 58,431 shares of the company's stock worth $4,099,000 after buying an additional 20,534 shares in the last quarter. Finally, Invesco Ltd. increased its stake in PC Connection by 8.2% during the fourth quarter. Invesco Ltd. now owns 268,455 shares of the company's stock valued at $18,596,000 after acquiring an additional 20,383 shares during the period. 42.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Jack L. Ferguson sold 1,000 shares of the stock in a transaction that occurred 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 now directly owns 66,055 shares in the company, valued at $4,380,767.60. This represents a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mcgrath sold 26,565 shares of PC Connection stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total value of $1,774,542.00. Following the completion of the transaction, the chief executive officer now owns 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 three months. 55.20% of the stock is currently owned by corporate insiders.

PC Connection Stock Up 1.1%

CNXN traded up $0.71 during trading on Tuesday, reaching $65.14. 72,069 shares of the company's stock were exchanged, compared to its average volume of 98,939. The company has a market capitalization of $1.65 billion, a P/E ratio of 19.80, a PEG ratio of 1.96 and a beta of 0.67. The business has a 50 day moving average price of $64.13 and a 200 day moving average price of $67.02. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The business had revenue of $701.05 million for the quarter, compared to analysts' expectations of $646.37 million. As a group, research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Tuesday, May 13th. PC Connection's dividend payout ratio (DPR) is 18.18%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded PC Connection from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.

PC Connection 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.