Los Angeles Capital Management LLC Sells 23,554 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Los Angeles Capital Management LLC trimmed its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 56.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,491 shares of the company’s stock after selling 23,554 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PC Connection were worth $1,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pacer Advisors Inc. raised its holdings in shares of PC Connection by 65.0% in the fourth quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock valued at $45,179,000 after purchasing an additional 264,687 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PC Connection by 3.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 229,124 shares of the company’s stock worth $12,231,000 after buying an additional 6,743 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of PC Connection by 6.4% during the 3rd quarter. AQR Capital Management LLC now owns 111,298 shares of the company’s stock worth $5,941,000 after buying an additional 6,677 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of PC Connection by 0.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock valued at $5,747,000 after acquiring an additional 708 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of PC Connection by 151.5% in the 3rd quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock valued at $4,990,000 after acquiring an additional 56,310 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com cut PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.

PC Connection Trading Up 1.9 %

NASDAQ CNXN opened at $63.75 on Thursday. PC Connection, Inc. has a 12 month low of $38.48 and a 12 month high of $70.55. The stock has a 50 day moving average of $64.26 and a 200-day moving average of $63.69. The company has a market cap of $1.68 billion, a PE ratio of 20.43, a PEG ratio of 1.83 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). The firm had revenue of $632.03 million during the quarter, compared to analyst estimates of $694.19 million. PC Connection had a net margin of 2.98% and a return on equity of 10.10%. During the same quarter in the prior year, the business earned $0.56 EPS. As a group, sell-side analysts predict that PC Connection, Inc. will post 3.35 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Monday, May 13th. PC Connection’s dividend payout ratio (DPR) is presently 12.82%.

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.