SG Americas Securities LLC acquired a new position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,429 shares of the company's stock, valued at approximately $339,000.
Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of PC Connection by 26,952.8% in the 1st quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock valued at $8,443,000 after purchasing an additional 134,764 shares during the period. Lazard Asset Management LLC raised its position in shares of PC Connection by 131.3% during the fourth quarter. Lazard Asset Management LLC now owns 41,687 shares of the company's stock worth $2,887,000 after purchasing an additional 23,667 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of PC Connection by 25.6% during the 4th quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company's stock valued at $7,974,000 after purchasing an additional 23,497 shares in the last quarter. Prudential Financial Inc. grew its position in shares of PC Connection by 54.2% in the 4th quarter. Prudential Financial Inc. now owns 58,431 shares of the company's stock valued at $4,099,000 after purchasing an additional 20,534 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of PC Connection by 8.2% in the fourth quarter. Invesco Ltd. now owns 268,455 shares of the company's stock valued at $18,596,000 after buying an additional 20,383 shares during the period. Institutional investors and hedge funds own 42.85% of the company's stock.
Insider Buying and Selling at PC Connection
In related news, Director Jack L. Ferguson sold 1,000 shares of PC Connection stock in a transaction that occurred on Wednesday, May 28th. The stock was 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 directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Mcgrath sold 26,565 shares of the company's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total value of $1,774,542.00. Following the completion of the transaction, the chief executive officer now directly owns 265,827 shares in the company, valued at approximately $17,757,243.60. This represents a 9.09% 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 worth $2,205,614 over the last 90 days. Company insiders own 55.20% of the company's stock.
Wall Street Analyst Weigh In
Separately, Wall Street Zen lowered PC Connection from a "strong-buy" rating to a "buy" rating in a report on Friday, May 9th.
View Our Latest Stock Report on PC Connection
PC Connection Stock Performance
NASDAQ CNXN traded up $0.20 during trading on Friday, hitting $66.04. The stock had a trading volume of 163,328 shares, compared to its average volume of 100,024. PC Connection, Inc. has a 12 month low of $56.82 and a 12 month high of $77.19. The company's 50-day moving average price is $65.65 and its two-hundred day moving average price is $66.08. The company has a market capitalization of $1.68 billion, a PE ratio of 20.01, a P/E/G ratio of 1.90 and a beta of 0.70.
PC Connection (NASDAQ:CNXN - Get Free Report) last posted 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. The firm had revenue of $701.05 million during the quarter, compared to the consensus estimate of $646.37 million. PC Connection had a return on equity of 9.95% and a net margin of 3.04%. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.
PC Connection Announces Dividend
The company 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. The ex-dividend date was Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 0.91%. PC Connection's dividend payout ratio (DPR) is currently 18.18%.
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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