Bailard Inc. Cuts Position in PC Connection, Inc. $CNXN

Bailard Inc. reduced its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 38.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,800 shares of the company’s stock after selling 2,400 shares during the quarter. Bailard Inc.’s holdings in PC Connection were worth $250,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CNXN. Parallel Advisors LLC lifted its holdings in shares of PC Connection by 74.3% during the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of PC Connection by 6,900.0% during the first quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after purchasing an additional 966 shares in the last quarter. CWM LLC lifted its stake in shares of PC Connection by 67.4% during the first quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $102,000 after purchasing an additional 659 shares in the last quarter. US Bancorp DE boosted its position in shares of PC Connection by 481.4% in the first quarter. US Bancorp DE now owns 2,901 shares of the company’s stock worth $181,000 after buying an additional 2,402 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in shares of PC Connection in the first quarter valued at about $182,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CNXN has been the topic of several recent research reports. Wall Street Zen lowered PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research lowered shares of PC Connection from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Thursday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

PC Connection Price Performance

Shares of CNXN stock opened at $58.99 on Friday. The firm has a fifty day moving average of $61.21 and a two-hundred day moving average of $63.83. The firm has a market cap of $1.49 billion, a P/E ratio of 18.26, a P/E/G ratio of 1.74 and a beta of 0.74. PC Connection, Inc. has a 1-year low of $55.50 and a 1-year high of $75.84.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.04). The company had revenue of $709.07 million for the quarter, compared to the consensus estimate of $749.81 million. PC Connection had a return on equity of 9.64% and a net margin of 2.91%. On average, sell-side analysts expect that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Monday, November 10th. PC Connection’s payout ratio is 18.58%.

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.