Invesco Ltd. Acquires 20,383 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Invesco Ltd. increased its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 8.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 268,455 shares of the company's stock after acquiring an additional 20,383 shares during the period. Invesco Ltd. owned about 1.02% of PC Connection worth $18,596,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Trexquant Investment LP boosted its position in PC Connection by 24.3% in the fourth quarter. Trexquant Investment LP now owns 32,760 shares of the company's stock worth $2,269,000 after purchasing an additional 6,400 shares during the last quarter. Geode Capital Management LLC grew its position in PC Connection by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 354,459 shares of the company's stock valued at $24,558,000 after buying an additional 8,329 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in PC Connection by 6.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company's stock valued at $370,000 after buying an additional 319 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in PC Connection in the fourth quarter worth approximately $40,000. Finally, JPMorgan Chase & Co. raised its position in PC Connection by 48.3% in the fourth quarter. JPMorgan Chase & Co. now owns 50,222 shares of the company's stock worth $3,479,000 after acquiring an additional 16,352 shares during the period. Hedge funds and other institutional investors own 42.85% of the company's stock.

PC Connection Stock Performance

Shares of CNXN stock traded up $0.60 during mid-day trading on Thursday, reaching $61.22. 9,933 shares of the company's stock traded hands, compared to its average volume of 95,363. PC Connection, Inc. has a 12 month low of $56.82 and a 12 month high of $77.19. The firm has a 50 day moving average price of $62.12 and a two-hundred day moving average price of $68.01. The firm has a market capitalization of $1.58 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.96 and a beta of 0.69.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings results 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 earnings per share. As a group, equities analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.98%. This is an increase 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.