Cwm LLC Increases Stock Position in PC Connection, Inc. $CNXN

Cwm LLC lifted its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 158.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,226 shares of the company’s stock after buying an additional 2,589 shares during the quarter. Cwm LLC’s holdings in PC Connection were worth $278,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CNXN. KLP Kapitalforvaltning AS increased its holdings in PC Connection by 13.3% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 14,500 shares of the company’s stock worth $954,000 after acquiring an additional 1,700 shares during the period. State of Alaska Department of Revenue increased its holdings in PC Connection by 3.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $467,000 after acquiring an additional 266 shares during the period. Parallel Advisors LLC increased its holdings in PC Connection by 74.3% during the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after acquiring an additional 191 shares during the period. Voya Investment Management LLC increased its holdings in PC Connection by 45.7% during the 1st quarter. Voya Investment Management LLC now owns 19,164 shares of the company’s stock worth $1,196,000 after acquiring an additional 6,009 shares during the period. Finally, Rhumbline Advisers increased its holdings in PC Connection by 17.3% during the 1st quarter. Rhumbline Advisers now owns 100,200 shares of the company’s stock worth $6,254,000 after acquiring an additional 14,768 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Stock Up 0.1%

Shares of CNXN stock opened at $62.70 on Monday. The business has a 50-day moving average price of $62.57 and a two-hundred day moving average price of $63.96. PC Connection, Inc. has a 12-month low of $56.72 and a 12-month high of $75.84. The firm has a market cap of $1.59 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $774.66 million. As a group, research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on CNXN shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PC Connection in a report on Friday. Wall Street Zen lowered shares of PC Connection from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

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.