Charles Schwab Investment Management Inc. Increases Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Charles Schwab Investment Management Inc. increased its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 251,721 shares of the company's stock after buying an additional 6,903 shares during the period. Charles Schwab Investment Management Inc. owned about 0.96% of PC Connection worth $17,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNXN. Point72 DIFC Ltd purchased a new position in shares of PC Connection in the third quarter valued at $28,000. Intech Investment Management LLC purchased a new position in PC Connection during the 3rd quarter valued at about $243,000. Illinois Municipal Retirement Fund raised its position in PC Connection by 6.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company's stock worth $452,000 after acquiring an additional 390 shares during the last quarter. Ieq Capital LLC lifted its holdings in shares of PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock valued at $457,000 after purchasing an additional 224 shares in the last quarter. Finally, Bailard Inc. lifted its holdings in shares of PC Connection by 23.3% in the fourth quarter. Bailard Inc. now owns 7,400 shares of the company's stock valued at $513,000 after purchasing an additional 1,400 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

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

PC Connection Trading Up 2.8 %

Shares of NASDAQ CNXN traded up $1.74 during trading on Monday, reaching $63.36. The company had a trading volume of 208,760 shares, compared to its average volume of 85,657. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19. The stock has a 50-day moving average price of $66.61 and a two-hundred day moving average price of $70.04. The stock has a market capitalization of $1.66 billion, a PE ratio of 19.26, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 EPS 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 period in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10. PC Connection's payout ratio is currently 18.24%.

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.