PC Connection, Inc. (NASDAQ:CNXN) Shares Purchased by Teacher Retirement System of Texas

Teacher Retirement System of Texas lifted its holdings in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 25.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 115,111 shares of the company's stock after acquiring an additional 23,497 shares during the quarter. Teacher Retirement System of Texas owned 0.44% of PC Connection worth $7,974,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company's stock valued at $37,384,000 after buying an additional 34,248 shares during the period. Geode Capital Management LLC lifted its holdings in PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock valued at $26,113,000 after acquiring an additional 23,358 shares during the period. Charles Schwab Investment Management Inc. boosted its position in PC Connection by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company's stock worth $17,437,000 after purchasing an additional 6,903 shares in the last quarter. Denali Advisors LLC grew its stake in shares of PC Connection by 8.0% during the 4th quarter. Denali Advisors LLC now owns 104,900 shares of the company's stock worth $7,266,000 after purchasing an additional 7,800 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of PC Connection by 0.4% during the 4th quarter. Rhumbline Advisers now owns 85,432 shares of the company's stock valued at $5,918,000 after purchasing an additional 298 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

Remove Ads

PC Connection Stock Performance

Shares of PC Connection stock traded up $0.06 on Thursday, hitting $62.83. The company's stock had a trading volume of 96,841 shares, compared to its average volume of 86,416. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.10, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The firm has a fifty day moving average price of $66.19 and a 200-day moving average price of $69.89. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share 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 last year, the company earned $0.90 EPS. As a group, analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a $0.15 dividend. This is a positive change from PC Connection's previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. This represents a $0.60 annualized dividend and a dividend yield of 0.95%. PC Connection's dividend payout ratio (DPR) is 18.24%.

Analysts Set New Price Targets

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

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.