AlphaQuest LLC Buys 14,492 Shares of PC Connection, Inc. $CNXN

AlphaQuest LLC raised its stake in PC Connection, Inc. (NASDAQ:CNXN) by 134.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,297 shares of the company’s stock after purchasing an additional 14,492 shares during the period. AlphaQuest LLC owned approximately 0.10% of PC Connection worth $1,568,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Amundi acquired a new position in shares of PC Connection during the first quarter valued at about $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in PC Connection by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after acquiring an additional 312 shares during the period. Millennium Management LLC raised its holdings in PC Connection by 98.8% in the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after acquiring an additional 57,257 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of PC Connection by 3.9% in 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. Finally, KLP Kapitalforvaltning AS lifted its position in shares of PC Connection by 13.3% in 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. Institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on CNXN shares. Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Zacks Research raised shares of PC Connection from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

PC Connection Price Performance

Shares of CNXN stock opened at $58.81 on Friday. The stock’s fifty day simple moving average is $58.60 and its 200 day simple moving average is $60.74. PC Connection, Inc. has a one year low of $54.97 and a one year high of $74.84. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 18.21, a P/E/G ratio of 1.53 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 earnings per share (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 company had revenue of $709.07 million for the quarter, compared to the consensus estimate of $749.81 million. On average, research analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Profile

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.