Quantinno Capital Management LP Has $1 Million Stock Position in PC Connection, Inc. $CNXN

Quantinno Capital Management LP grew its position in PC Connection, Inc. (NASDAQ:CNXN) by 137.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,166 shares of the company’s stock after acquiring an additional 9,947 shares during the quarter. Quantinno Capital Management LP owned 0.07% of PC Connection worth $1,004,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNXN. Qube Research & Technologies Ltd raised its stake in shares of PC Connection by 71.3% in the third quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock valued at $10,264,000 after purchasing an additional 68,906 shares in the last quarter. UBS Group AG increased its holdings in PC Connection by 189.9% in the 4th quarter. UBS Group AG now owns 89,814 shares of the company’s stock valued at $5,188,000 after buying an additional 58,831 shares during the period. Millennium Management LLC increased its holdings in PC Connection by 98.8% in the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after buying an additional 57,257 shares during the period. Invesco Ltd. raised its stake in shares of PC Connection by 22.1% in the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock valued at $12,662,000 after buying an additional 39,716 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in shares of PC Connection during the 2nd quarter worth about $2,585,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $81.08 on Monday. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $88.31. The firm’s 50-day simple moving average is $77.02 and its 200 day simple moving average is $67.78. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.94 and a beta of 0.86.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.31. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. The firm had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $764.79 million. On average, equities analysts expect that PC Connection, Inc. will post 4.18 earnings per share for the current year.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. PC Connection’s dividend payout ratio (DPR) is 21.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CNXN shares. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Finally, Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, PC Connection presently has a consensus rating of “Strong Buy”.

Insider Buying and Selling at PC Connection

In other news, Chairman Patricia Gallup sold 7,142 shares of the business’s stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $86.34, for a total transaction of $616,640.28. Following the completion of the sale, the chairman owned 6,977,753 shares in the company, valued at $602,459,194.02. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 35,734 shares of company stock worth $2,665,153 in the last ninety days. Insiders own 56.60% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.