Russell Investments Group Ltd. Purchases 966 Shares of PC Connection, Inc. $CNXN

Russell Investments Group Ltd. increased its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 6,900.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 980 shares of the company’s stock after purchasing an additional 966 shares during the quarter. Russell Investments Group Ltd.’s holdings in PC Connection were worth $61,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CNXN. Vanguard Group Inc. lifted its position in PC Connection by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,128,524 shares of the company’s stock worth $70,442,000 after buying an additional 10,235 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in PC Connection by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 252,870 shares of the company’s stock worth $15,784,000 after buying an additional 1,149 shares during the last quarter. GAMMA Investing LLC lifted its position in PC Connection by 26,952.8% in the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company’s stock worth $8,443,000 after buying an additional 134,764 shares during the last quarter. Nuveen Asset Management LLC lifted its position 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 purchasing an additional 12,795 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of PC Connection by 17.3% during the first quarter. Rhumbline Advisers now owns 100,200 shares of the company’s stock worth $6,254,000 after purchasing an additional 14,768 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Stock Performance

PC Connection stock opened at $66.35 on Friday. The company’s fifty day moving average price is $64.25 and its 200 day moving average price is $64.07. The stock has a market capitalization of $1.68 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.84 and a beta of 0.73. PC Connection, Inc. has a 1 year low of $56.72 and a 1 year high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. PC Connection had a return on equity of 9.74% and a net margin of 2.97%.The firm had revenue of $759.69 million during the quarter, compared to analysts’ expectations of $774.66 million. Sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, August 12th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.9%. PC Connection’s dividend payout ratio is currently 18.29%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd.

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.