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% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,431 shares of the company's stock after purchasing an additional 20,534 shares during the period. Prudential Financial Inc. owned 0.22% of PC Connection worth $4,099,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNXN. Vanguard Group Inc. raised its holdings in PC Connection by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company's stock worth $77,464,000 after purchasing an additional 8,723 shares during the last quarter. State Street Corp raised its stake in PC Connection by 7.4% during the third quarter. State Street Corp now owns 495,611 shares of the company's stock worth $37,384,000 after buying an additional 34,248 shares during the last quarter. 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 buying an additional 23,358 shares during the period. American Century Companies Inc. boosted its position in PC Connection by 1.0% during the fourth quarter. American Century Companies Inc. now owns 297,833 shares of the company's stock valued at $20,631,000 after acquiring an additional 2,965 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in PC Connection by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company's stock worth $17,437,000 after acquiring an additional 6,903 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Stock Performance

Shares of NASDAQ:CNXN traded down $1.22 during midday trading on Friday, reaching $59.70. The company's stock had a trading volume of 214,984 shares, compared to its average volume of 91,656. 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 50 day moving average price of $64.82 and a two-hundred day moving average price of $69.39. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 18.15, a PEG ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period last year, the company earned $0.90 earnings per share. As a group, research analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.01%. This is a positive change from PC Connection's previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, February 25th. PC Connection's dividend payout ratio is presently 18.24%.

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.