Mawer Investment Management Ltd. Decreases Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Mawer Investment Management Ltd. lessened its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 15.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,189,469 shares of the company's stock after selling 218,913 shares during the quarter. Mawer Investment Management Ltd. owned 4.53% of PC Connection worth $79,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in CNXN. Arizona State Retirement System purchased a new position in PC Connection in the fourth quarter valued at approximately $222,000. Maryland State Retirement & Pension System bought a new stake in shares of PC Connection in the third quarter valued at $222,000. Jump Financial LLC purchased a new position in shares of PC Connection during the 3rd quarter valued at $272,000. Illinois Municipal Retirement Fund bought a new position in shares of PC Connection during the 3rd quarter worth $332,000. Finally, Truist Financial Corp bought a new position in shares of PC Connection during the 4th quarter worth $352,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Stock Up 0.4 %

CNXN traded up $0.27 on Friday, hitting $64.96. The company's stock had a trading volume of 74,562 shares, compared to its average volume of 60,176. PC Connection, Inc. has a 12 month low of $40.42 and a 12 month high of $70.55. The firm has a market cap of $1.71 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 1.93 and a beta of 0.67. The company's 50 day simple moving average is $64.19 and its 200-day simple moving average is $63.87.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.14). PC Connection had a return on equity of 10.10% and a net margin of 2.98%. The company had revenue of $632.03 million during the quarter, compared to the consensus estimate of $694.19 million. During the same period in the previous year, the business earned $0.56 earnings per share. Equities analysts predict that PC Connection, Inc. will post 3.35 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, May 13th. PC Connection's dividend payout ratio is presently 12.82%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of PC Connection from a "strong-buy" rating to a "buy" rating in a research report on Friday, April 26th.

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.