PC Connection, Inc. (NASDAQ:CNXN) Shares Acquired by Barclays PLC

Barclays PLC boosted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 178.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 36,002 shares of the company's stock after buying an additional 23,084 shares during the period. Barclays PLC owned 0.14% of PC Connection worth $2,717,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Point72 DIFC Ltd acquired a new position in shares of PC Connection during the 3rd quarter valued at about $28,000. Signaturefd LLC boosted its holdings in PC Connection by 328.1% in the 3rd quarter. Signaturefd LLC now owns 488 shares of the company's stock valued at $37,000 after purchasing an additional 374 shares during the last quarter. CWM LLC grew its stake in shares of PC Connection by 125.5% in the 3rd quarter. CWM LLC now owns 850 shares of the company's stock valued at $64,000 after buying an additional 473 shares during the period. Innealta Capital LLC acquired a new stake in shares of PC Connection during the 2nd quarter worth approximately $60,000. Finally, nVerses Capital LLC raised its position in shares of PC Connection by 1,000.0% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock valued at $83,000 after buying an additional 1,000 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 71,750 shares of the company's stock, valued at $5,022,500. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 56.50% of the company's stock.

Analyst Upgrades and Downgrades

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

PC Connection Price Performance

Shares of CNXN stock traded down $0.59 during trading hours on Wednesday, hitting $69.62. The company had a trading volume of 53,209 shares, compared to its average volume of 80,195. The stock has a market capitalization of $1.83 billion, a PE ratio of 20.42, a price-to-earnings-growth ratio of 2.14 and a beta of 0.66. The company's fifty day moving average is $71.73 and its 200 day moving average is $70.00. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date was Tuesday, November 12th. PC Connection's dividend payout ratio (DPR) is 11.73%.

PC Connection Profile

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.