Rhumbline Advisers Buys 14,768 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Rhumbline Advisers grew its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 17.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,200 shares of the company's stock after purchasing an additional 14,768 shares during the quarter. Rhumbline Advisers owned approximately 0.39% of PC Connection worth $6,254,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CNXN. New Age Alpha Advisors LLC bought a new position in shares of PC Connection in the fourth quarter valued at approximately $40,000. Public Employees Retirement System of Ohio raised its position 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 valued at $77,000 after buying an additional 657 shares during the period. Graham Capital Management L.P. purchased a new position in PC Connection during the fourth quarter valued at approximately $202,000. EntryPoint Capital LLC boosted its stake in shares of PC Connection by 8.3% during the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after buying an additional 248 shares during the period. Finally, ProShare Advisors LLC purchased a new stake in shares of PC Connection during the fourth quarter worth $243,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Timothy J. Mcgrath sold 5,440 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the transaction, the chief executive officer now owns 260,387 shares in the company, valued at approximately $17,458,948.35. The trade was a 2.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jack L. Ferguson sold 1,000 shares of the stock in a transaction dated 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 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. Insiders own 55.20% of the company's stock.

Analysts Set New Price Targets

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

PC Connection Stock Performance

Shares of PC Connection stock traded down $1.09 during midday trading on Friday, reaching $63.41. 25,127 shares of the company's stock traded hands, compared to its average volume of 99,534. PC Connection, Inc. has a 52 week low of $56.82 and a 52 week high of $77.19. The company's 50 day simple moving average is $64.60 and its 200 day simple moving average is $66.74. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.96 and a beta of 0.70.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. As a group, equities research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders 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 dividend yield of 0.95%. PC Connection's payout ratio is presently 18.18%.

PC Connection Company 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.