American Century Companies Inc. Sells 32,175 Shares of PC Connection, Inc. $CNXN

American Century Companies Inc. decreased its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,740 shares of the company’s stock after selling 32,175 shares during the period. American Century Companies Inc. owned 1.14% of PC Connection worth $18,993,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of PC Connection in the first quarter worth about $279,000. US Bancorp DE grew its holdings in PC Connection by 481.4% in the 1st quarter. US Bancorp DE now owns 2,901 shares of the company’s stock valued at $181,000 after buying an additional 2,402 shares during the last quarter. Vanguard Group Inc. increased its position in PC Connection by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 1,128,524 shares of the company’s stock worth $70,442,000 after buying an additional 10,235 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of PC Connection by 0.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 252,870 shares of the company’s stock worth $15,784,000 after buying an additional 1,149 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of PC Connection during the first quarter worth approximately $2,190,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on CNXN. Zacks Research downgraded shares of PC Connection from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of PC Connection in a research report on Monday. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

PC Connection Stock Up 0.8%

Shares of CNXN opened at $58.67 on Wednesday. The company has a 50-day moving average price of $59.82 and a two-hundred day moving average price of $62.88. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 18.16, a P/E/G ratio of 1.71 and a beta of 0.81. PC Connection, Inc. has a 12 month low of $54.97 and a 12 month high of $75.84.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.01 by ($0.04). The company had revenue of $709.07 million during 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 9.61%. Equities research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Monday, November 10th. PC Connection’s payout ratio is currently 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.