PC Connection, Inc. $CNXN Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC trimmed its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 31.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,494 shares of the company’s stock after selling 673 shares during the period. GAMMA Investing LLC’s holdings in PC Connection were worth $98,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Parallel Advisors LLC lifted its stake in shares of PC Connection by 74.3% in the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of PC Connection by 23,450.0% during the 1st quarter. Farther Finance Advisors LLC now owns 471 shares of the company’s stock valued at $30,000 after buying an additional 469 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock valued at $61,000 after buying an additional 966 shares during the period. Public Employees Retirement System of Ohio increased its holdings in PC Connection by 143.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company’s stock worth $77,000 after purchasing an additional 657 shares during the last quarter. Finally, CWM LLC increased its holdings in PC Connection by 67.4% during the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $102,000 after purchasing an additional 659 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PC Connection Stock Performance

CNXN opened at $61.80 on Thursday. PC Connection, Inc. has a one year low of $56.72 and a one year high of $75.84. The stock’s fifty day moving average is $62.98 and its 200-day moving average is $63.99. The company has a market capitalization of $1.57 billion, a PE ratio of 18.84, a P/E/G ratio of 1.77 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, topping 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 company had revenue of $759.69 million for the quarter, compared to the consensus estimate of $774.66 million. On average, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

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

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.