California State Teachers Retirement System Sells 198 Shares of PC Connection, Inc. (NASDAQ:CNXN)

California State Teachers Retirement System decreased its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,151 shares of the company’s stock after selling 198 shares during the period. California State Teachers Retirement System’s holdings in PC Connection were worth $842,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CNXN. Barclays PLC increased its stake in shares of PC Connection by 178.7% during the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after buying an additional 23,084 shares during the period. Rhumbline Advisers lifted its holdings in shares of PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after purchasing an additional 298 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of PC Connection by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 63,842 shares of the company’s stock valued at $4,422,000 after purchasing an additional 2,138 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in shares of PC Connection by 8.8% during the fourth quarter. New York State Common Retirement Fund now owns 35,997 shares of the company’s stock valued at $2,494,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Ieq Capital LLC increased its position in PC Connection by 3.5% during the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 9th.

Insider Buying and Selling at PC Connection

In other news, Director Jack L. Ferguson sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the completion of the transaction, the director now directly owns 66,055 shares of the company’s stock, valued at approximately $4,380,767.60. The trade was a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy J. Mcgrath sold 5,440 shares of the business’s stock in a transaction dated 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 represents a 2.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,005 shares of company stock worth $2,205,614. 55.20% of the stock is currently owned by insiders.

PC Connection Price Performance

NASDAQ:CNXN opened at $65.78 on Wednesday. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.96 and a beta of 0.70. The business has a 50 day simple moving average of $64.40 and a 200-day simple moving average of $66.82. PC Connection, Inc. has a 1 year low of $56.82 and a 1 year high of $77.19.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. The business had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. As a group, analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 0.91%. PC Connection’s payout ratio is presently 18.18%.

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.