Voya Investment Management LLC Has $1.20 Million Position in PC Connection, Inc. $CNXN

Key Points

• Voya Investment Management LLC increased its holdings in PC Connection, Inc. by 45.7%, now owning 19,164 shares valued at approximately $1.20 million.
• PC Connection recently announced a quarterly dividend of $0.15 per share, translating to an annual yield of 1.0%.
• Despite reporting earnings per share of $0.97, which beat estimates, the company's revenue of $759.69 million fell short of analyst expectations of $774.66 million.

Voya Investment Management LLC raised its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 45.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,164 shares of the company's stock after purchasing an additional 6,009 shares during the quarter. Voya Investment Management LLC owned 0.08% of PC Connection worth $1,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rhumbline Advisers lifted its position in shares of PC Connection by 17.3% during the first quarter. Rhumbline Advisers now owns 100,200 shares of the company's stock valued at $6,254,000 after purchasing an additional 14,768 shares in the last quarter. Strs Ohio bought a new position in shares of PC Connection during the 1st quarter worth approximately $574,000. Millennium Management LLC lifted its position in shares of PC Connection by 98.8% during the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company's stock worth $7,193,000 after buying an additional 57,257 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of PC Connection by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company's stock worth $431,000 after buying an additional 312 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of PC Connection by 446.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 109,460 shares of the company's stock valued at $6,832,000 after acquiring an additional 89,429 shares in the last quarter. Institutional investors own 42.85% of the company's stock.

PC Connection Price Performance

Shares of PC Connection stock opened at $62.43 on Wednesday. PC Connection, Inc. has a 1 year low of $56.72 and a 1 year high of $77.19. The firm has a market cap of $1.59 billion, a PE ratio of 19.03, a P/E/G ratio of 1.80 and a beta of 0.73. The stock has a fifty day moving average price of $63.43 and a 200-day moving average price of $64.00.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 earnings per share 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 company had revenue of $759.69 million during the quarter, compared to analyst estimates of $774.66 million. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Tuesday, August 12th were paid a $0.15 dividend. The ex-dividend date was Tuesday, August 12th. This represents a $0.60 annualized dividend and a yield of 1.0%. PC Connection's dividend payout ratio (DPR) is currently 18.29%.

Analyst Upgrades and Downgrades

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

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.

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