KLP Kapitalforvaltning AS Takes $436,000 Position in PC Connection, Inc. (NASDAQ:CNXN)

KLP Kapitalforvaltning AS bought a new position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 6,300 shares of the company's stock, valued at approximately $436,000.

A number of other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in 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 acquiring an additional 23,358 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company's stock valued at $1,813,000 after purchasing an additional 15,916 shares in the last quarter. State Street Corp increased its position in PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company's stock worth $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Barclays PLC raised its stake in PC Connection by 178.7% during the third quarter. Barclays PLC now owns 36,002 shares of the company's stock valued at $2,717,000 after purchasing an additional 23,084 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in PC Connection by 59.3% during the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company's stock valued at $2,555,000 after purchasing an additional 12,608 shares during the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Stock Performance

Shares of NASDAQ:CNXN traded up $2.46 on Wednesday, reaching $61.38. The company's stock had a trading volume of 259,473 shares, compared to its average volume of 93,392. The company has a 50-day simple moving average of $63.49 and a 200 day simple moving average of $68.94. The company has a market cap of $1.59 billion, a P/E ratio of 18.66, a PEG ratio of 1.96 and a beta of 0.69. PC Connection, Inc. has a 52-week low of $56.82 and a 52-week high of $77.19.

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PC Connection (NASDAQ:CNXN - Get Free Report) last released 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 return on equity of 9.74% and a net margin of 3.11%. During the same period in the previous year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend was Tuesday, February 25th. This is a positive change from PC Connection's previous quarterly dividend of $0.10. PC Connection's dividend payout ratio is presently 18.24%.

PC Connection Company 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.