PC Connection, Inc. (CNXN) Position Lifted by ClariVest Asset Management LLC
ClariVest Asset Management LLC boosted its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 186,715 shares of the company’s stock after acquiring an additional 6,225 shares during the period. ClariVest Asset Management LLC owned 0.70% of PC Connection worth $5,265,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in CNXN. Dimensional Fund Advisors LP lifted its stake in PC Connection by 0.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,244,663 shares of the company’s stock worth $60,741,000 after purchasing an additional 10,323 shares in the last quarter. Northern Trust Corp lifted its stake in PC Connection by 1.9% during the second quarter. Northern Trust Corp now owns 730,319 shares of the company’s stock worth $19,763,000 after purchasing an additional 13,284 shares in the last quarter. Vanguard Group Inc. lifted its stake in PC Connection by 8.5% during the second quarter. Vanguard Group Inc. now owns 541,510 shares of the company’s stock worth $14,653,000 after purchasing an additional 42,259 shares in the last quarter. Tributary Capital Management LLC lifted its stake in PC Connection by 68.2% during the second quarter. Tributary Capital Management LLC now owns 385,128 shares of the company’s stock worth $10,422,000 after purchasing an additional 156,106 shares in the last quarter. Finally, State Street Corp lifted its stake in PC Connection by 8.5% during the second quarter. State Street Corp now owns 255,636 shares of the company’s stock worth $6,915,000 after purchasing an additional 20,012 shares in the last quarter. Hedge funds and other institutional investors own 41.63% of the company’s stock.
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PC Connection, Inc. (NASDAQ:CNXN) traded up $0.01 during trading hours on Friday, reaching $26.43. The company’s stock had a trading volume of 28,371 shares, compared to its average volume of 49,324. PC Connection, Inc. has a one year low of $23.52 and a one year high of $30.48. The firm has a market capitalization of $708.75, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.83 and a beta of 1.60.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. PC Connection had a return on equity of 11.35% and a net margin of 1.80%. The business had revenue of $729.23 million for the quarter, compared to analyst estimates of $727.84 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue was up 2.9% on a year-over-year basis. equities research analysts predict that PC Connection, Inc. will post 1.81 EPS for the current year.
In other news, Director Negrini David Beffa sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the sale, the director now owns 129,800 shares of the company’s stock, valued at $3,374,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 57.30% of the stock is currently owned by corporate insiders.
CNXN has been the topic of a number of research reports. ValuEngine upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research note on Monday, July 31st. Finally, Roth Capital set a $33.00 price target on PC Connection and gave the stock a “buy” rating in a research note on Friday, July 28th.
PC Connection Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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