Vanguard Group Inc. Purchases 8,723 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Vanguard Group Inc. lifted its position in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 0.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,118,289 shares of the company's stock after buying an additional 8,723 shares during the period. Vanguard Group Inc. owned approximately 4.25% of PC Connection worth $77,464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CNXN. KLP Kapitalforvaltning AS acquired a new stake in shares of PC Connection during the 4th quarter valued at $436,000. Magnetar Financial LLC acquired a new position in PC Connection in the 4th quarter worth approximately $448,000. Illinois Municipal Retirement Fund grew its position in PC Connection by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company's stock worth $452,000 after purchasing an additional 390 shares in the last quarter. Ieq Capital LLC lifted its holdings in shares of PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock valued at $457,000 after purchasing an additional 224 shares in the last quarter. Finally, Picton Mahoney Asset Management boosted its position in shares of PC Connection by 64.6% in the fourth quarter. Picton Mahoney Asset Management now owns 7,380 shares of the company's stock worth $511,000 after buying an additional 2,897 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Price Performance

PC Connection stock traded down $0.79 during trading hours on Wednesday, hitting $59.46. The company had a trading volume of 5,550 shares, compared to its average volume of 94,213. The firm has a market capitalization of $1.54 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.96 and a beta of 0.69. The firm's fifty day moving average is $62.71 and its 200-day moving average is $68.54. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19.

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

PC Connection Increases Dividend

The firm also recently declared 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 an increase from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Tuesday, February 25th. PC Connection's dividend payout ratio (DPR) is currently 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.