3,065 Shares in PC Connection, Inc. $CNXN Bought by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 3,065 shares of the company’s stock, valued at approximately $202,000.

A number of other large investors have also added to or reduced their stakes in CNXN. Parallel Advisors LLC increased its position in shares of PC Connection by 74.3% in the second quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Russell Investments Group Ltd. grew its stake in shares of PC Connection by 6,900.0% in 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 during the last quarter. US Bancorp DE increased its holdings in PC Connection by 481.4% during the 1st quarter. US Bancorp DE now owns 2,901 shares of the company’s stock valued at $181,000 after purchasing an additional 2,402 shares during the period. Quantbot Technologies LP purchased a new position in PC Connection during the 1st quarter valued at about $182,000. Finally, CWM LLC raised its position in PC Connection by 158.2% during the 2nd quarter. CWM LLC now owns 4,226 shares of the company’s stock valued at $278,000 after purchasing an additional 2,589 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Trading Down 0.5%

CNXN opened at $58.00 on Friday. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 17.96, a price-to-earnings-growth ratio of 1.74 and a beta of 0.74. The stock has a fifty day simple moving average of $59.99 and a two-hundred day simple moving average of $63.14. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $75.84.

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

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Tuesday, November 11th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. PC Connection’s dividend payout ratio (DPR) is currently 18.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered PC Connection from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. Wall Street Zen lowered PC Connection from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PC Connection in a report on Wednesday, November 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, PC Connection currently has an average rating of “Reduce”.

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.