PC Connection, Inc. (NASDAQ:CNXN) Shares Purchased by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 40.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,031 shares of the company's stock after buying an additional 5,810 shares during the period. Jacobs Levy Equity Management Inc. owned 0.08% of PC Connection worth $1,388,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. New Age Alpha Advisors LLC purchased a new stake in PC Connection during the 4th quarter valued at approximately $40,000. Graham Capital Management L.P. purchased a new position in PC Connection in the 4th quarter valued at $202,000. EntryPoint Capital LLC increased its stake in PC Connection by 8.3% in the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after buying an additional 248 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in shares of PC Connection in the 4th quarter worth $282,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PC Connection by 156.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock valued at $292,000 after acquiring an additional 2,570 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

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, May 9th.

PC Connection Stock Down 1.2%

CNXN stock traded down $0.86 on Tuesday, reaching $68.29. 70,680 shares of the company's stock were exchanged, compared to its average volume of 97,389. The firm has a market cap of $1.73 billion, a PE ratio of 20.76, a P/E/G ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The stock has a fifty day moving average of $63.20 and a 200-day moving average of $67.41.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The company had revenue of $701.05 million for the quarter, compared to analyst estimates of $646.37 million. On average, equities research analysts predict that PC Connection, Inc. will post 3.33 EPS for the current fiscal 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 dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. PC Connection's payout ratio is 18.18%.

PC Connection 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.