Denali Advisors LLC Acquires 7,800 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Denali Advisors LLC lifted its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 8.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 104,900 shares of the company's stock after buying an additional 7,800 shares during the period. PC Connection makes up 0.8% of Denali Advisors LLC's holdings, making the stock its 24th largest position. Denali Advisors LLC owned about 0.40% of PC Connection worth $7,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Martingale Asset Management L P grew its holdings in shares of PC Connection by 0.4% during the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company's stock valued at $2,798,000 after buying an additional 140 shares in the last quarter. Amalgamated Bank lifted its position in shares of PC Connection by 4.6% during the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company's stock worth $266,000 after purchasing an additional 154 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of PC Connection by 4.9% during the 3rd quarter. New York State Teachers Retirement System now owns 4,613 shares of the company's stock worth $348,000 after purchasing an additional 216 shares during the last quarter. Ieq Capital LLC lifted its position in shares of PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock worth $457,000 after purchasing an additional 224 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of PC Connection by 0.4% during the 4th quarter. Rhumbline Advisers now owns 85,432 shares of the company's stock worth $5,918,000 after purchasing an additional 298 shares during the last quarter. Institutional investors own 42.85% of the company's stock.

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Analyst Upgrades and Downgrades

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

PC Connection Stock Up 1.9 %

PC Connection stock traded up $1.16 during trading hours on Friday, hitting $63.80. The stock had a trading volume of 134,587 shares, compared to its average volume of 96,674. The company has a 50-day moving average of $68.81 and a two-hundred day moving average of $70.87. The company has a market cap of $1.67 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period last year, the firm posted $0.90 earnings per share. As a group, analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a $0.15 dividend. This is a positive change from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Tuesday, February 25th. PC Connection's dividend payout ratio is currently 18.24%.

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.