PC Connection, Inc. (NASDAQ:CNXN) Stock Holdings Increased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 12.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,087 shares of the company’s stock after purchasing an additional 652 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in PC Connection were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNXN. New Age Alpha Advisors LLC bought a new stake in shares of PC Connection in the 4th quarter worth approximately $40,000. EntryPoint Capital LLC raised its holdings in shares of PC Connection by 8.3% in the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock worth $223,000 after purchasing an additional 248 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of PC Connection by 156.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company’s stock worth $292,000 after purchasing an additional 2,570 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of PC Connection by 33.7% during the fourth quarter. Hsbc Holdings PLC now owns 4,968 shares of the company’s stock valued at $341,000 after acquiring an additional 1,252 shares during the period. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of PC Connection by 6.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company’s stock valued at $370,000 after acquiring an additional 319 shares during the period. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Performance

Shares of CNXN opened at $69.59 on Thursday. The company’s 50 day moving average price is $62.76 and its 200 day moving average price is $67.35. PC Connection, Inc. has a 52 week low of $56.82 and a 52 week high of $77.19. The company has a market capitalization of $1.77 billion, a PE ratio of 21.15, a PEG ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to the consensus estimate of $646.37 million. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. On average, equities analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Tuesday, May 13th. PC Connection’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, May 9th.

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.