Victory Capital Management Inc. Acquires 4,896 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Victory Capital Management Inc. boosted its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,668 shares of the company's stock after acquiring an additional 4,896 shares during the quarter. Victory Capital Management Inc. owned 0.20% of PC Connection worth $3,648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in shares of PC Connection during the third quarter worth about $591,000. Geode Capital Management LLC grew its stake in shares of PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after acquiring an additional 23,358 shares in the last quarter. Jane Street Group LLC raised its holdings in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company's stock valued at $1,813,000 after purchasing an additional 15,916 shares during the last quarter. State Street Corp raised its holdings in shares of PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company's stock valued at $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Finally, Barclays PLC lifted its position in shares of PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company's stock worth $2,717,000 after purchasing an additional 23,084 shares in the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Ratings Changes

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

PC Connection Stock Performance

CNXN traded up $0.74 on Wednesday, hitting $62.56. 108,727 shares of the company were exchanged, compared to its average volume of 82,207. The stock's fifty day moving average is $67.08 and its 200-day moving average is $70.22. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19. The company has a market cap of $1.64 billion, a PE ratio of 19.01, a PEG ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) 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 period in the prior year, the firm posted $0.90 EPS. As a group, equities research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The company 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. The ex-dividend date was Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. This is a boost from PC Connection's previous quarterly dividend of $0.10. PC Connection's dividend payout ratio (DPR) is currently 18.24%.

PC Connection 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.