Vanguard Group Inc. Purchases 10,218 Shares of PC Connection, Inc. $CNXN

Vanguard Group Inc. increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 1.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,080,151 shares of the company’s stock after buying an additional 10,218 shares during the period. Vanguard Group Inc.’s holdings in PC Connection were worth $62,390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CNXN. EverSource Wealth Advisors LLC raised its position in shares of PC Connection by 625.0% in the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of PC Connection by 196.7% in the third quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock worth $39,000 after buying an additional 417 shares in the last quarter. Quarry LP purchased a new stake in shares of PC Connection in the third quarter worth $75,000. Russell Investments Group Ltd. raised its position in shares of PC Connection by 194.0% in the third quarter. Russell Investments Group Ltd. now owns 1,411 shares of the company’s stock worth $87,000 after buying an additional 931 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of PC Connection by 535.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock worth $105,000 after buying an additional 1,349 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

PC Connection Stock Up 2.2%

CNXN opened at $64.20 on Friday. The stock has a market cap of $1.62 billion, a PE ratio of 18.66, a P/E/G ratio of 1.60 and a beta of 0.86. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $71.00. The business’s fifty day simple moving average is $61.67 and its 200 day simple moving average is $60.31.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, April 29th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The business had revenue of $721.87 million for the quarter, compared to analysts’ expectations of $696.09 million. PC Connection had a return on equity of 10.17% and a net margin of 3.02%. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.93 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, May 29th. Investors of record on Tuesday, May 12th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 12th. PC Connection’s dividend payout ratio is currently 23.26%.

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.