Prudential Financial Inc. Acquires 20,534 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Prudential Financial Inc. boosted its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 54.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,431 shares of the company's stock after purchasing an additional 20,534 shares during the period. Prudential Financial Inc. owned about 0.22% of PC Connection worth $4,099,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its position in shares of PC Connection by 20.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 11,338 shares of the company's stock valued at $855,000 after acquiring an additional 1,927 shares during the period. Intech Investment Management LLC purchased a new position in PC Connection during the third quarter valued at $243,000. Charles Schwab Investment Management Inc. grew its holdings in PC Connection by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company's stock valued at $18,467,000 after purchasing an additional 10,925 shares during the period. FMR LLC increased its position in PC Connection by 33.0% in the third quarter. FMR LLC now owns 41,108 shares of the company's stock worth $3,101,000 after buying an additional 10,206 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of PC Connection by 5.2% in the third quarter. Public Sector Pension Investment Board now owns 26,242 shares of the company's stock worth $1,979,000 after buying an additional 1,300 shares during the period. 42.85% of the stock is currently owned by institutional investors.

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PC Connection Price Performance

Shares of CNXN stock traded down $3.05 during trading hours on Thursday, reaching $60.92. 130,194 shares of the company traded hands, compared to its average volume of 90,971. The firm has a 50-day moving average price of $65.09 and a 200 day moving average price of $69.56. The company has a market cap of $1.59 billion, a P/E ratio of 18.52, a P/E/G ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19.

PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts' consensus estimates 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 quarter in the prior year, the business earned $0.90 earnings per share. Sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date 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%.

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.