Brown Advisory Inc. Sells 4,614 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Brown Advisory Inc. cut its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 133,597 shares of the company's stock after selling 4,614 shares during the quarter. Brown Advisory Inc. owned approximately 0.52% of PC Connection worth $8,339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in 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 last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of PC Connection in the fourth quarter worth about $40,000. Public Employees Retirement System of Ohio lifted its holdings in shares of PC Connection by 143.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock worth $77,000 after buying an additional 657 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of PC Connection by 333.4% in the first quarter. GAMMA Investing LLC now owns 2,167 shares of the company's stock worth $135,000 after buying an additional 1,667 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new stake in shares of PC Connection in the fourth quarter worth about $202,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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.

PC Connection Trading Down 1.8%

Shares of PC Connection stock traded down $1.24 on Friday, reaching $66.02. The stock had a trading volume of 45,195 shares, compared to its average volume of 99,239. PC Connection, Inc. has a 1 year low of $56.82 and a 1 year high of $77.19. The company has a market cap of $1.68 billion, a P/E ratio of 20.01, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69. The business's 50 day moving average is $66.55 and its two-hundred day moving average is $65.74.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.18. The firm had revenue of $701.05 million for the quarter, compared to the consensus estimate of $646.37 million. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. On average, equities analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Tuesday, May 13th. PC Connection's dividend payout ratio is currently 18.18%.

Insider Buying and Selling

In related news, CEO Timothy J. Mcgrath sold 5,440 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total value of $364,752.00. Following the sale, the chief executive officer directly owned 260,387 shares of the company's stock, valued at $17,458,948.35. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 completion of the sale, the director directly owned 66,055 shares in the company, valued at $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,005 shares of company stock worth $2,205,614 over the last ninety days. 55.20% of the stock is currently owned by insiders.

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.