Vanguard Group Inc. Grows Position in PC Connection, Inc. $CNXN

Key Points

• Vanguard Group Inc. increased its stake in PC Connection, Inc. by 0.9%, now holding approximately 1,128,524 shares, valued at $70.4 million.
• Several institutional investors, including MetLife and Tower Research, have also grown their positions in PC Connection during the previous quarter, indicating increased interest from large investors.
• PC Connection was recently downgraded by Wall Street Zen from a "buy" to a "hold" rating, highlighting some caution among analysts despite recent financial performance improvements.

Vanguard Group Inc. raised its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 0.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,128,524 shares of the company's stock after acquiring an additional 10,235 shares during the quarter. Vanguard Group Inc. owned about 4.44% of PC Connection worth $70,442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in PC Connection by 23,450.0% in the first quarter. Farther Finance Advisors LLC now owns 471 shares of the company's stock valued at $30,000 after buying an additional 469 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position 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 valued at $77,000 after acquiring an additional 657 shares during the period. CWM LLC lifted its position in PC Connection by 67.4% during the first quarter. CWM LLC now owns 1,637 shares of the company's stock worth $102,000 after purchasing an additional 659 shares during the period. 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 acquiring an additional 1,667 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of PC Connection by 481.4% in the first quarter. US Bancorp DE now owns 2,901 shares of the company's stock worth $181,000 after acquiring an additional 2,402 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

PC Connection Stock Up 0.1%

Shares of CNXN stock traded up $0.07 during trading on Friday, hitting $64.21. The company had a trading volume of 76,314 shares, compared to its average volume of 84,628. The stock's 50-day moving average is $64.36 and its two-hundred day moving average is $64.08. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 1.83 and a beta of 0.72. PC Connection, Inc. has a 52 week low of $56.72 and a 52 week high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.06. PC Connection had a return on equity of 9.74% and a net margin of 2.97%.The business had revenue of $759.69 million during the quarter, compared to analyst estimates of $774.66 million. On average, research analysts predict that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, August 12th. PC Connection's dividend payout ratio (DPR) is presently 18.29%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of PC Connection from a "buy" rating to a "hold" rating in a research report on Saturday, August 2nd.

About PC Connection

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.