Lazard Asset Management LLC Acquires 23,667 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Lazard Asset Management LLC lifted its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 131.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 41,687 shares of the company's stock after acquiring an additional 23,667 shares during the period. Lazard Asset Management LLC owned approximately 0.16% of PC Connection worth $2,887,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. New Age Alpha Advisors LLC bought a new stake in PC Connection during the fourth quarter worth about $40,000. Graham Capital Management L.P. bought a new stake in PC Connection during the fourth quarter worth about $202,000. EntryPoint Capital LLC lifted its position in PC Connection by 8.3% during the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock worth $223,000 after purchasing an additional 248 shares during the period. Susquehanna Fundamental Investments LLC bought a new stake in PC Connection during the fourth quarter worth about $282,000. Finally, Tower Research Capital LLC TRC lifted its position in PC Connection by 156.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company's stock worth $292,000 after purchasing an additional 2,570 shares during the period. Institutional investors own 42.85% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut 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 0.4%

Shares of CNXN stock traded down $0.27 on Thursday, reaching $67.33. The company had a trading volume of 9,746 shares, compared to its average volume of 97,424. The stock has a market capitalization of $1.71 billion, a PE ratio of 20.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a one year low of $56.82 and a one year high of $77.19. The business's 50-day moving average is $63.51 and its 200 day moving average is $67.42.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.60 EPS 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%. On average, sell-side analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th will be issued 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 dividend yield of 0.89%. PC Connection's dividend payout ratio (DPR) is currently 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.