PC Connection, Inc. (NASDAQ:CNXN) Position Raised by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,818 shares of the company's stock after buying an additional 10,925 shares during the period. Charles Schwab Investment Management Inc. owned about 0.93% of PC Connection worth $18,467,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its position in shares of PC Connection by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company's stock worth $80,781,000 after buying an additional 240,312 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of PC Connection by 31.1% in the second quarter. American Century Companies Inc. now owns 262,993 shares of the company's stock valued at $16,884,000 after purchasing an additional 62,398 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of PC Connection by 34.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company's stock valued at $10,552,000 after purchasing an additional 35,505 shares during the last quarter. Millennium Management LLC increased its stake in shares of PC Connection by 108.0% during the 2nd quarter. Millennium Management LLC now owns 64,774 shares of the company's stock worth $4,158,000 after purchasing an additional 33,626 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of PC Connection by 319.4% during the 2nd quarter. Victory Capital Management Inc. now owns 37,458 shares of the company's stock worth $2,405,000 after purchasing an additional 28,526 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Trading Up 0.3 %

Shares of CNXN traded up $0.24 during mid-day trading on Friday, reaching $73.51. The company had a trading volume of 45,782 shares, compared to its average volume of 61,907. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 21.56, a price-to-earnings-growth ratio of 2.19 and a beta of 0.66. The firm has a fifty day simple moving average of $72.06 and a 200-day simple moving average of $69.57. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, November 12th. PC Connection's dividend payout ratio (DPR) is presently 11.73%.

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.

Insider Activity at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the company's stock in a transaction dated Wednesday, November 20th. The stock was 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 of the company's stock, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.90% of the stock is currently owned by insiders.

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.