Rhumbline Advisers increased its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 17.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 100,200 shares of the company's stock after acquiring an additional 14,768 shares during the quarter. Rhumbline Advisers owned about 0.39% of PC Connection worth $6,254,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in CNXN. Jane Street Group LLC lifted 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 worth $1,694,000 after acquiring an additional 420 shares during the period. BNP Paribas Financial Markets lifted its stake in shares of PC Connection by 33.9% in the fourth quarter. BNP Paribas Financial Markets now owns 5,693 shares of the company's stock worth $394,000 after acquiring an additional 1,440 shares during the period. Deutsche Bank AG lifted its stake in shares of PC Connection by 96.9% in the fourth quarter. Deutsche Bank AG now owns 12,511 shares of the company's stock worth $867,000 after acquiring an additional 6,158 shares during the period. Graham Capital Management L.P. acquired a new position in PC Connection in the fourth quarter valued at approximately $202,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in PC Connection by 40.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 20,031 shares of the company's stock valued at $1,388,000 after buying an additional 5,810 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Separately, Wall Street Zen lowered PC Connection from a "buy" rating to a "hold" rating in a research note on Saturday, August 2nd.
View Our Latest Research Report on CNXN
PC Connection Stock Performance
Shares of NASDAQ CNXN traded up $0.53 during midday trading on Thursday, hitting $63.38. 19,572 shares of the stock traded hands, compared to its average volume of 101,281. The company has a market cap of $1.61 billion, a PE ratio of 19.30, a P/E/G ratio of 1.80 and a beta of 0.73. PC Connection, Inc. has a one year low of $56.72 and a one year high of $77.19. The business has a 50 day moving average price of $63.70 and a two-hundred day moving average price of $64.02.
PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $759.69 million during the quarter, compared to the consensus estimate of $774.66 million. PC Connection had a return on equity of 9.74% and a net margin of 2.97%. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.
PC Connection Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. PC Connection's payout ratio is currently 18.29%.
About PC Connection
(
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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