PC Connection, Inc. $CNXN Shares Sold by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 16.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 241,981 shares of the company’s stock after selling 46,759 shares during the quarter. American Century Companies Inc. owned 0.96% of PC Connection worth $15,000,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in CNXN. Quantbot Technologies LP lifted its holdings in shares of PC Connection by 797,600.0% during the third quarter. Quantbot Technologies LP now owns 7,977 shares of the company’s stock valued at $494,000 after purchasing an additional 7,976 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of PC Connection by 27.6% during the 3rd quarter. GSA Capital Partners LLP now owns 20,536 shares of the company’s stock valued at $1,273,000 after buying an additional 4,441 shares during the period. Denali Advisors LLC grew its stake in PC Connection by 30.4% in the third quarter. Denali Advisors LLC now owns 86,900 shares of the company’s stock valued at $5,387,000 after purchasing an additional 20,269 shares in the last quarter. JPMorgan Chase & Co. grew its position in PC Connection by 63.1% in the third quarter. JPMorgan Chase & Co. now owns 46,021 shares of the company’s stock worth $2,853,000 after acquiring an additional 17,808 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PC Connection by 196.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock worth $39,000 after acquiring an additional 417 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Trading Up 0.1%

CNXN stock opened at $60.56 on Wednesday. The business’s 50-day moving average price is $60.24 and its two-hundred day moving average price is $60.56. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $71.17. The firm has a market cap of $1.53 billion, a PE ratio of 18.52, a P/E/G ratio of 1.59 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.05. PC Connection had a return on equity of 9.87% and a net margin of 2.91%.The firm had revenue of $702.94 million for the quarter, compared to the consensus estimate of $735.49 million. On average, analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, February 17th. This is an increase from PC Connection’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. PC Connection’s dividend payout ratio is 24.46%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNXN shares. Zacks Research raised PC Connection from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, PC Connection currently 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.