GAMMA Investing LLC Has $135,000 Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

GAMMA Investing LLC increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 333.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,167 shares of the company’s stock after purchasing an additional 1,667 shares during the period. GAMMA Investing LLC’s holdings in PC Connection were worth $135,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CNXN. Nuveen Asset Management LLC increased its holdings in shares of PC Connection by 12.7% during the fourth quarter. Nuveen Asset Management LLC now owns 113,261 shares of the company’s stock worth $7,846,000 after buying an additional 12,795 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of PC Connection by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company’s stock worth $77,464,000 after buying an additional 8,723 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of PC Connection by 17.3% in the first quarter. Rhumbline Advisers now owns 100,200 shares of the company’s stock valued at $6,254,000 after purchasing an additional 14,768 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of PC Connection by 1.7% in the fourth quarter. Jane Street Group LLC now owns 24,460 shares of the company’s stock valued at $1,694,000 after purchasing an additional 420 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of PC Connection by 96.9% in the fourth quarter. Deutsche Bank AG now owns 12,511 shares of the company’s stock valued at $867,000 after purchasing an additional 6,158 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other news, CEO Timothy J. Mcgrath sold 26,565 shares of PC Connection stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the transaction, the chief executive officer directly owned 265,827 shares of the company’s stock, valued at $17,757,243.60. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jack L. Ferguson sold 1,000 shares of PC Connection 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 transaction, the director directly owned 66,055 shares in the company, 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. Over the last three months, insiders have sold 33,005 shares of company stock worth $2,205,614. Insiders own 55.20% of the company’s stock.

PC Connection Stock Performance

Shares of CNXN stock opened at $67.28 on Friday. PC Connection, Inc. has a 52-week low of $56.82 and a 52-week high of $77.19. The stock has a market cap of $1.71 billion, a PE ratio of 20.39, a PEG ratio of 1.94 and a beta of 0.69. The firm’s 50 day moving average price is $66.27 and its two-hundred day moving average price is $65.81.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. The firm had revenue of $701.05 million for the quarter, compared to analysts’ expectations of $646.37 million. As a group, sell-side analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.89%. 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.