State of Alaska Department of Revenue Acquires 266 Shares of PC Connection, Inc. $CNXN

State of Alaska Department of Revenue increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,113 shares of the company’s stock after purchasing an additional 266 shares during the quarter. State of Alaska Department of Revenue’s holdings in PC Connection were worth $467,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CNXN. Parallel Advisors LLC grew its stake in shares of PC Connection by 74.3% in the second quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of PC Connection by 23,450.0% in the first quarter. Farther Finance Advisors LLC now owns 471 shares of the company’s stock worth $30,000 after purchasing an additional 469 shares during the last quarter. Russell Investments Group Ltd. boosted its position in 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 acquiring an additional 966 shares in the last quarter. CWM LLC boosted its position in PC Connection by 67.4% during the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $102,000 after acquiring an additional 659 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in PC Connection by 333.4% during the 1st quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock valued at $135,000 after acquiring an additional 1,667 shares in the last quarter. 42.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNXN. Wall Street Zen cut PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PC Connection in a research report on Wednesday. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

PC Connection Stock Performance

CNXN stock opened at $60.71 on Thursday. The firm has a 50 day moving average price of $62.61 and a 200-day moving average price of $63.96. PC Connection, Inc. has a 52-week low of $56.72 and a 52-week high of $75.84. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.51, a PEG ratio of 1.70 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. The firm had revenue of $759.69 million during the quarter, compared to analyst estimates of $774.66 million. As a group, sell-side analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

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

About PC Connection

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.