SG Americas Securities LLC Makes New Investment in PC Connection, Inc. $CNXN

SG Americas Securities LLC bought a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 15,152 shares of the company’s stock, valued at approximately $939,000. SG Americas Securities LLC owned 0.06% of PC Connection as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Parallel Advisors LLC boosted its position in PC Connection by 74.3% during the second quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after purchasing an additional 191 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of PC Connection by 0.9% during the 2nd quarter. Prudential Financial Inc. now owns 31,255 shares of the company’s stock worth $2,189,000 after purchasing an additional 264 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of 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 purchasing an additional 266 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after buying an additional 312 shares during the last quarter. Finally, State of Wyoming grew its stake in shares of PC Connection by 8.2% in the 2nd quarter. State of Wyoming now owns 5,321 shares of the company’s stock valued at $350,000 after buying an additional 401 shares in the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Trading Down 0.9%

Shares of NASDAQ:CNXN opened at $58.51 on Tuesday. The firm has a market capitalization of $1.48 billion, a PE ratio of 18.11, a PEG ratio of 1.54 and a beta of 0.81. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $74.84. The business’s 50 day moving average is $58.60 and its 200-day moving average is $61.28.

PC Connection (NASDAQ:CNXN) last issued 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). PC Connection had a net margin of 2.91% and a return on equity of 9.61%. The firm had revenue of $709.07 million during the quarter, compared to analyst estimates of $749.81 million. On average, sell-side 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. Stockholders of record on Tuesday, November 11th were given a dividend of $0.15 per share. 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 18.58%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CNXN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a research report on Monday, December 29th. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.