Deutsche Bank AG increased its position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 96.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,511 shares of the company's stock after purchasing an additional 6,158 shares during the period. Deutsche Bank AG's holdings in PC Connection were worth $867,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CNXN. New Age Alpha Advisors LLC purchased a new stake in shares of PC Connection in the 4th quarter worth approximately $40,000. EntryPoint Capital LLC boosted its holdings in shares of PC Connection by 8.3% in the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after acquiring an additional 248 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of PC Connection in the 4th quarter valued at $282,000. Tower Research Capital LLC TRC boosted its holdings in PC Connection by 156.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock worth $292,000 after buying an additional 2,570 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in PC Connection by 33.7% during the fourth quarter. Hsbc Holdings PLC now owns 4,968 shares of the company's stock worth $341,000 after buying an additional 1,252 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded shares of PC Connection from a "strong-buy" rating to a "buy" rating in a report on Friday, May 9th.
Read Our Latest Stock Analysis on PC Connection
Insider Buying and Selling
In other PC Connection news, Director Jack L. Ferguson sold 1,000 shares of the firm'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 now owns 66,055 shares of the company's stock, valued at approximately $4,380,767.60. This trade represents a 1.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy J. Mcgrath sold 26,565 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the sale, the chief executive officer now directly owns 265,827 shares in the company, 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 90 days. 55.20% of the stock is owned by insiders.
PC Connection Stock Performance
NASDAQ CNXN traded down $0.27 during mid-day trading on Friday, reaching $65.26. 135,024 shares of the stock were exchanged, compared to its average volume of 98,808. The company has a market capitalization of $1.66 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a 1 year low of $56.82 and a 1 year high of $77.19. The business's 50 day moving average is $64.05 and its 200-day moving average is $67.10.
PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $646.37 million. Equities 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 declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. PC Connection's dividend payout ratio is currently 18.18%.
PC Connection Profile
(
Free Report)
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.
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