Nuveen LLC Purchases Shares of 35,088 PC Connection, Inc. $CNXN

Key Points

• Nuveen LLC has acquired a new position in PC Connection, Inc. ($CNXN), purchasing 35,088 shares valued at approximately $2.19 million.
• The company reported $0.97 earnings per share in its last quarter, exceeding analysts' expectations, but its revenue of $759.69 million fell short of the projected $774.66 million.
• PC Connection recently announced a quarterly dividend of $0.15 per share, with a dividend yield of 0.9% and a payout ratio of 18.29%.

Nuveen LLC bought a new stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 35,088 shares of the company's stock, valued at approximately $2,190,000. Nuveen LLC owned approximately 0.14% of PC Connection at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PC Connection by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company's stock valued at $456,000 after acquiring an additional 234 shares during the last quarter. Vident Advisory LLC boosted its position in shares of PC Connection by 4.2% in the fourth quarter. Vident Advisory LLC now owns 6,934 shares of the company's stock worth $480,000 after buying an additional 277 shares during the period. Jane Street Group LLC grew its stake in shares of PC Connection by 1.7% in the fourth quarter. Jane Street Group LLC now owns 24,460 shares of the company's stock valued at $1,694,000 after buying an additional 420 shares in the last quarter. Tudor Investment Corp ET AL grew its position in PC Connection by 1.7% in the fourth quarter. Tudor Investment Corp ET AL now owns 28,448 shares of the company's stock valued at $1,971,000 after acquiring an additional 468 shares in the last quarter. Finally, Farther Finance Advisors LLC raised 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 valued at $30,000 after purchasing an additional 469 shares during the period. Hedge funds and other institutional investors own 42.85% of the company's stock.

Wall Street Analyst Weigh In

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

PC Connection Price Performance

Shares of NASDAQ:CNXN traded down $0.39 during trading on Wednesday, reaching $63.71. 24,088 shares of the company's stock traded hands, compared to its average volume of 102,571. PC Connection, Inc. has a 12 month low of $56.72 and a 12 month high of $77.19. The company has a 50 day moving average of $64.26 and a 200-day moving average of $64.06. The stock has a market capitalization of $1.62 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 1.83 and a beta of 0.73.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The business had revenue of $759.69 million during the quarter, compared to analyst estimates of $774.66 million. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. Equities research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Tuesday, August 12th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, August 12th. This represents a $0.60 annualized dividend and a yield of 0.9%. PC Connection's payout ratio is presently 18.29%.

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.