Pacer Advisors Inc. Decreases Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Pacer Advisors Inc. lessened its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 705,317 shares of the company's stock after selling 20,075 shares during the period. Pacer Advisors Inc. owned about 2.68% of PC Connection worth $48,857,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Martingale Asset Management L P raised its holdings in PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company's stock worth $2,798,000 after purchasing an additional 140 shares in the last quarter. Amalgamated Bank increased its stake in shares of PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company's stock worth $266,000 after acquiring an additional 154 shares during the period. New York State Teachers Retirement System raised its stake 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 valued at $348,000 after buying an additional 216 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in PC Connection by 5.3% in the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company's stock valued at $453,000 after acquiring an additional 300 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of PC Connection in the 3rd quarter valued at $28,000. Hedge funds and other institutional investors own 42.85% of the company's stock.

PC Connection Trading Up 1.4 %

CNXN stock traded up $1.04 during mid-day trading on Tuesday, reaching $73.29. The company's stock had a trading volume of 63,079 shares, compared to its average volume of 62,628. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The stock has a market cap of $1.93 billion, a PE ratio of 21.49, a P/E/G ratio of 1.96 and a beta of 0.67. The company's 50 day moving average is $71.61 and its two-hundred day moving average is $71.17.

PC Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection's payout ratio is 11.73%.

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the company's stock in a transaction 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 sale, the director now owns 71,750 shares in the company, valued at $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 56.90% of the company's stock.

Analysts Set New Price Targets

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

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.