PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 22.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,128 shares of the company's stock after selling 8,019 shares during the quarter. First Trust Advisors LP owned about 0.11% of PC Connection worth $1,948,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Sterling Capital Management LLC increased its stake in shares of PC Connection by 6.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,609 shares of the company's stock worth $389,000 after acquiring an additional 331 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in PC Connection by 5.7% in the 4th quarter. Renaissance Technologies LLC now owns 61,700 shares of the company's stock valued at $4,274,000 after purchasing an additional 3,300 shares during the last quarter. Legal & General Group Plc grew its stake in shares of PC Connection by 8.1% in the 4th quarter. Legal & General Group Plc now owns 34,572 shares of the company's stock valued at $2,395,000 after buying an additional 2,593 shares during the period. Invesco Ltd. increased its holdings in shares of PC Connection by 8.2% during the 4th quarter. Invesco Ltd. now owns 268,455 shares of the company's stock worth $18,596,000 after buying an additional 20,383 shares during the last quarter. Finally, Trexquant Investment LP raised its position in shares of PC Connection by 24.3% during the 4th quarter. Trexquant Investment LP now owns 32,760 shares of the company's stock valued at $2,269,000 after buying an additional 6,400 shares during the period. Hedge funds and other institutional investors own 42.85% of the company's stock.

PC Connection Trading Up 0.1 %

NASDAQ CNXN traded up $0.07 during trading hours on Friday, reaching $69.13. The company had a trading volume of 75,886 shares, compared to its average volume of 96,985. The stock has a market capitalization of $1.76 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock has a 50-day moving average of $62.28 and a 200 day moving average of $67.37. PC Connection, Inc. has a 1-year low of $56.82 and a 1-year high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 earnings per share 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 net margin of 3.11% and a return on equity of 9.74%. As a group, sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.87%. The ex-dividend date is Tuesday, May 13th. PC Connection's dividend payout ratio is currently 18.18%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut PC Connection from a "strong-buy" rating to a "buy" rating in a research note on Friday.

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.