JPMorgan Chase & Co. Purchases 16,352 Shares of PC Connection, Inc. (NASDAQ:CNXN)

JPMorgan Chase & Co. boosted its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,222 shares of the company's stock after purchasing an additional 16,352 shares during the period. JPMorgan Chase & Co. owned 0.19% of PC Connection worth $3,479,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of PC Connection by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company's stock worth $77,464,000 after acquiring an additional 8,723 shares during the last quarter. Geode Capital Management LLC raised its holdings in PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after purchasing an additional 23,358 shares during the last quarter. American Century Companies Inc. lifted its position in shares of PC Connection by 1.0% in the 4th quarter. American Century Companies Inc. now owns 297,833 shares of the company's stock worth $20,631,000 after purchasing an additional 2,965 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of PC Connection by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company's stock valued at $17,437,000 after purchasing an additional 6,903 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of PC Connection by 25.6% during the fourth quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company's stock worth $7,974,000 after buying an additional 23,497 shares during the period. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Up 0.7 %

NASDAQ:CNXN traded up $0.42 during trading hours on Friday, reaching $61.97. The company had a trading volume of 66,619 shares, compared to its average volume of 95,893. The business's 50-day simple moving average is $61.96 and its two-hundred day simple moving average is $67.85. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 18.84, a P/E/G ratio of 1.96 and a beta of 0.69.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same period last year, the company earned $0.90 EPS. As a group, equities analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10. PC Connection's payout ratio is 18.24%.

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.