New York State Teachers Retirement System Has $255,000 Holdings in PC Connection, Inc. (NASDAQ:CNXN)

New York State Teachers Retirement System lowered its stake in PC Connection, Inc. (NASDAQ:CNXN) by 5.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,792 shares of the company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in PC Connection were worth $255,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Coppell Advisory Solutions Corp. acquired a new stake in shares of PC Connection in the fourth quarter worth about $25,000. Point72 Middle East FZE acquired a new stake in shares of PC Connection in the fourth quarter worth about $28,000. Russell Investments Group Ltd. acquired a new stake in shares of PC Connection in the first quarter worth about $28,000. Tower Research Capital LLC TRC lifted its position in shares of PC Connection by 62.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after purchasing an additional 290 shares during the last quarter. Finally, Covestor Ltd lifted its position in shares of PC Connection by 2,189.7% during the 1st quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after purchasing an additional 854 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Stock Performance

NASDAQ CNXN opened at $62.82 on Friday. PC Connection, Inc. has a twelve month low of $37.76 and a twelve month high of $70.55. The stock has a market capitalization of $1.66 billion, a PE ratio of 19.88, a P/E/G ratio of 1.77 and a beta of 0.66. The stock has a 50-day simple moving average of $65.43 and a 200 day simple moving average of $62.84.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.02. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. The business had revenue of $696.47 million during the quarter, compared to analysts’ expectations of $673.51 million. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.5 EPS for the current fiscal year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Tuesday, February 27th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.64%. The ex-dividend date was Monday, February 26th. This is a boost from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s payout ratio is currently 12.66%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday.

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.