Nuveen Asset Management LLC Buys 12,795 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Nuveen Asset Management LLC increased its position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 12.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 0.43% of PC Connection worth $7,846,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNXN. New Age Alpha Advisors LLC acquired a new position in shares of PC Connection in the fourth quarter worth $40,000. Graham Capital Management L.P. acquired a new position in shares of PC Connection in the fourth quarter worth $202,000. EntryPoint Capital LLC increased its stake in shares of PC Connection by 8.3% in the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock worth $223,000 after acquiring an additional 248 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of PC Connection in the fourth quarter worth $282,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of PC Connection by 156.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock worth $292,000 after acquiring an additional 2,570 shares during the last quarter. Institutional investors own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other PC Connection news, Director Jack L. Ferguson sold 1,000 shares of PC Connection stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total transaction of $66,320.00. Following the completion of the sale, the director now owns 66,055 shares of the company's stock, valued at approximately $4,380,767.60. The trade was a 1.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Mcgrath sold 5,440 shares of PC Connection stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $67.05, for a total transaction of $364,752.00. Following the sale, the chief executive officer now directly owns 260,387 shares of the company's stock, valued at $17,458,948.35. This represents a 2.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,005 shares of company stock valued at $2,205,614. Company insiders own 55.20% of the company's stock.

PC Connection Price Performance

Shares of NASDAQ CNXN traded down $0.27 during mid-day trading on Friday, hitting $65.26. The company had a trading volume of 135,024 shares, compared to its average volume of 98,808. PC Connection, Inc. has a 12 month low of $56.82 and a 12 month high of $77.19. The firm has a market cap of $1.66 billion, a P/E ratio of 19.84, a PEG ratio of 1.96 and a beta of 0.67. The business's 50-day simple moving average is $64.05 and its 200-day simple moving average is $67.10.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, beating the consensus estimate 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, sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, May 13th. PC Connection's dividend payout ratio is presently 18.18%.

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.