PC Connection, Inc. (NASDAQ:CNXN) Holdings Raised by Victory Capital Management Inc.

Victory Capital Management Inc. grew its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 27.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,772 shares of the company's stock after buying an additional 10,314 shares during the period. Victory Capital Management Inc. owned 0.18% of PC Connection worth $3,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company's stock valued at $68,625,000 after acquiring an additional 14,838 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of PC Connection during the third quarter valued at about $591,000. Millennium Management LLC grew its position in PC Connection by 108.0% in the 2nd quarter. Millennium Management LLC now owns 64,774 shares of the company's stock valued at $4,158,000 after buying an additional 33,626 shares in the last quarter. Magnetar Financial LLC acquired a new position in PC Connection during the 2nd quarter valued at about $646,000. Finally, Summit Global Investments bought a new stake in shares of PC Connection during the 2nd quarter worth about $505,000. Institutional investors own 42.85% of the company's stock.

PC Connection Price Performance

Shares of PC Connection stock traded up $1.01 during trading on Friday, hitting $72.74. The stock had a trading volume of 56,490 shares, compared to its average volume of 76,664. The business has a fifty day moving average of $72.29 and a two-hundred day moving average of $69.12. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The firm has a market cap of $1.91 billion, a P/E ratio of 21.33, a PEG ratio of 2.12 and a beta of 0.63.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be issued a $0.10 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. PC Connection's payout ratio is currently 11.73%.

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction on 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 transaction, the director now owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 56.90% of the company's stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of PC Connection from a "buy" rating to a "hold" rating in a research note on Wednesday.

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.