Wells Fargo & Company MN Cuts Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Age Alpha Advisors LLC purchased a new position in PC Connection in the fourth quarter valued at about $40,000. EntryPoint Capital LLC grew its stake in shares of 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 acquiring an additional 248 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of PC Connection by 6.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company's stock worth $370,000 after acquiring an additional 319 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of PC Connection during the fourth quarter worth about $436,000. Finally, Magnetar Financial LLC purchased a new stake in shares of PC Connection during the fourth quarter worth about $448,000. Hedge funds and other institutional investors own 42.85% of the company's stock.

PC Connection Stock Performance

Shares of CNXN stock opened at $61.97 on Tuesday. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 18.84, a PEG ratio of 1.96 and a beta of 0.69. The stock's 50-day simple moving average is $61.89 and its 200-day simple moving average is $67.69.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued 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 in the previous year, the business posted $0.90 EPS. As a group, equities analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

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

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.

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