PC Connection, Inc. (NASDAQ:CNXN) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 14.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,887 shares of the company’s stock after purchasing an additional 2,629 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.08% of PC Connection worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. New Age Alpha Advisors LLC purchased a new position in shares of PC Connection in the fourth quarter valued at $40,000. Graham Capital Management L.P. acquired a new position in PC Connection in the fourth quarter valued at approximately $202,000. EntryPoint Capital LLC grew its stake in PC Connection by 8.3% during the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock worth $223,000 after buying an additional 248 shares during the last quarter. ProShare Advisors LLC bought a new position in shares of PC Connection during the fourth quarter worth about $243,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of PC Connection in the fourth quarter valued at approximately $282,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Timothy J. Mcgrath sold 5,440 shares of the firm’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $67.05, for a total value of $364,752.00. Following the transaction, the chief executive officer now directly owns 260,387 shares of the company’s stock, valued at approximately $17,458,948.35. This trade represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jack L. Ferguson sold 1,000 shares of the company’s stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the sale, the director now directly owns 66,055 shares of the company’s stock, valued at approximately $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,005 shares of company stock worth $2,205,614 in the last ninety days. Corporate insiders own 55.20% of the company’s stock.

PC Connection Price Performance

Shares of CNXN opened at $65.20 on Monday. The stock has a market capitalization of $1.66 billion, a P/E ratio of 19.82, a P/E/G ratio of 1.96 and a beta of 0.70. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19. The firm’s 50 day moving average is $64.28 and its 200-day moving average is $66.88.

PC Connection (NASDAQ:CNXN) last announced 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. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The company had revenue of $701.05 million during the quarter, compared to analysts’ expectations of $646.37 million. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, May 13th. PC Connection’s dividend payout ratio is currently 18.18%.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note 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.