Wells Fargo & Company MN Sells 7,307 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Wells Fargo & Company MN reduced its position in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 29.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,881 shares of the company's stock after selling 7,307 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of PC Connection worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC acquired a new position in PC Connection in the fourth quarter valued at approximately $40,000. EntryPoint Capital LLC increased its holdings in PC Connection by 8.3% in the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after purchasing an additional 248 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in PC Connection by 6.4% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company's stock valued at $370,000 after buying an additional 319 shares during the period. KLP Kapitalforvaltning AS bought a new position in PC Connection during the fourth quarter worth about $436,000. Finally, Magnetar Financial LLC acquired a new position in shares of PC Connection during the 4th quarter worth about $448,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Price Performance

CNXN traded up $1.69 during mid-day trading on Friday, hitting $68.08. The stock had a trading volume of 90,248 shares, compared to its average volume of 96,918. PC Connection, Inc. has a 1-year low of $56.82 and a 1-year high of $77.19. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 20.69, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock's fifty day simple moving average is $61.90 and its 200-day simple moving average is $67.47.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted 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 return on equity of 9.74% and a net margin of 3.11%. The firm had revenue of $701.05 million for the quarter, compared to analyst estimates of $646.37 million. As a group, research analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid 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%.

Analyst Upgrades and Downgrades

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

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.