PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,085 shares of the company's stock after selling 13,807 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.48% of PC Connection worth $8,734,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its position in shares of PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company's stock worth $37,384,000 after buying an additional 34,248 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after buying an additional 23,358 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PC Connection by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company's stock worth $18,467,000 after buying an additional 10,925 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PC Connection in the 3rd quarter worth about $3,675,000. Finally, Victory Capital Management Inc. lifted its position in shares of PC Connection by 27.5% in the 3rd quarter. Victory Capital Management Inc. now owns 47,772 shares of the company's stock worth $3,603,000 after buying an additional 10,314 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

PC Connection Price Performance

Shares of CNXN stock traded down $0.26 during trading hours on Friday, reaching $65.03. The stock had a trading volume of 145,429 shares, compared to its average volume of 84,460. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19. The firm has a 50-day simple moving average of $69.74 and a 200-day simple moving average of $71.07. The firm has a market capitalization of $1.71 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data 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 quarter last year, the firm posted $0.90 earnings per share. On average, equities analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, February 25th. This is a boost from PC Connection's previous quarterly dividend of $0.10. PC Connection's dividend payout ratio (DPR) is 12.16%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of PC Connection from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th.

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.