New York State Common Retirement Fund Lowers Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

New York State Common Retirement Fund decreased its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 46.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,397 shares of the company's stock after selling 16,600 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of PC Connection worth $1,211,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CNXN. Farther Finance Advisors LLC boosted its stake in 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 acquiring an additional 469 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in PC Connection during the fourth quarter worth about $40,000. Public Employees Retirement System of Ohio boosted its stake in PC Connection by 143.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock worth $77,000 after acquiring an additional 657 shares in the last quarter. GAMMA Investing LLC boosted its stake in PC Connection by 333.4% during the first quarter. GAMMA Investing LLC now owns 2,167 shares of the company's stock worth $135,000 after acquiring an additional 1,667 shares in the last quarter. Finally, Graham Capital Management L.P. bought a new stake in PC Connection during the fourth quarter worth about $202,000. Institutional investors own 42.85% of the company's stock.

PC Connection Stock Up 0.8%

PC Connection stock traded up $0.51 during trading hours on Monday, hitting $64.51. The stock had a trading volume of 59,848 shares, compared to its average volume of 55,225. The stock has a market capitalization of $1.64 billion, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 1.89 and a beta of 0.69. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19. The stock's 50-day moving average price is $65.68 and its 200-day moving average price is $65.36.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. The business had revenue of $701.05 million during the quarter, compared to analysts' expectations of $646.37 million. On average, research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.93%. PC Connection's payout ratio is 18.18%.

Wall Street Analyst Weigh In

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

Insider Activity at PC Connection

In related news, CEO Timothy J. Mcgrath sold 26,565 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the completion of the sale, the chief executive officer directly owned 265,827 shares in the company, valued at approximately $17,757,243.60. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jack L. Ferguson sold 1,000 shares of the business's stock in a transaction that occurred 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 sale, the director owned 66,055 shares of the company's stock, valued at $4,380,767.60. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,005 shares of company stock valued at $2,205,614 over the last three months. 55.20% of the stock is owned by corporate insiders.

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.