First Trust Advisors LP Sells 8,019 Shares of PC Connection, Inc. (NASDAQ:CNXN)

First Trust Advisors LP lowered its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 22.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of PC Connection by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company's stock worth $77,464,000 after purchasing an additional 8,723 shares during the period. Geode Capital Management LLC lifted its holdings in PC Connection by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 354,459 shares of the company's stock valued at $24,558,000 after purchasing an additional 8,329 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of PC Connection by 1.0% in the fourth quarter. American Century Companies Inc. now owns 297,833 shares of the company's stock worth $20,631,000 after buying an additional 2,965 shares in the last quarter. Invesco Ltd. lifted its stake in shares of PC Connection by 8.2% in the fourth quarter. Invesco Ltd. now owns 268,455 shares of the company's stock worth $18,596,000 after buying an additional 20,383 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PC Connection by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company's stock valued at $17,437,000 after acquiring an additional 6,903 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of PC Connection from a "strong-buy" rating to a "buy" rating in a research report on Friday.

PC Connection Stock Up 0.1%

Shares of PC Connection stock traded up $0.07 on Friday, hitting $69.13. The company's stock had a trading volume of 75,886 shares, compared to its average volume of 97,052. The company 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 firm has a fifty day moving average price of $62.40 and a 200-day moving average price of $67.30. PC Connection, Inc. has a 52-week low of $56.82 and a 52-week high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to the consensus estimate of $646.37 million. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. As a group, analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

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

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.