Goldman Sachs Group Inc. Has $4.57 Million Stock Holdings in PC Connection, Inc. $CNXN

Goldman Sachs Group Inc. cut its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 41.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 73,277 shares of the company’s stock after selling 52,654 shares during the period. Goldman Sachs Group Inc. owned approximately 0.29% of PC Connection worth $4,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CNXN. BNP Paribas Financial Markets raised its position in shares of PC Connection by 33.9% during the fourth quarter. BNP Paribas Financial Markets now owns 5,693 shares of the company’s stock worth $394,000 after purchasing an additional 1,440 shares during the period. Deutsche Bank AG raised its position in shares of PC Connection by 96.9% during the fourth quarter. Deutsche Bank AG now owns 12,511 shares of the company’s stock worth $867,000 after purchasing an additional 6,158 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PC Connection by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company’s stock worth $456,000 after purchasing an additional 234 shares during the period. Nuveen Asset Management LLC grew 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 valued at $7,846,000 after buying an additional 12,795 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of PC Connection during the fourth quarter valued at $243,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $63.08 on Wednesday. The business’s 50-day moving average price is $63.80 and its two-hundred day moving average price is $64.03. PC Connection, Inc. has a one year low of $56.72 and a one year high of $77.19. The company has a market capitalization of $1.60 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.81 and a beta of 0.73.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $774.66 million. On average, equities analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, August 12th. PC Connection’s dividend payout ratio is 18.29%.

PC Connection Company 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.