SG Americas Securities LLC Raises Position in PC Connection, Inc. $CNXN

SG Americas Securities LLC raised its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 88.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 28,495 shares of the company’s stock after acquiring an additional 13,343 shares during the quarter. SG Americas Securities LLC owned approximately 0.11% of PC Connection worth $1,646,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its stake in shares of PC Connection by 65.3% in the 2nd quarter. Brown Advisory Inc. now owns 220,821 shares of the company’s stock valued at $14,526,000 after purchasing an additional 87,224 shares during the period. Invesco Ltd. grew its stake in PC Connection by 2.4% in the second quarter. Invesco Ltd. now owns 179,487 shares of the company’s stock worth $11,807,000 after purchasing an additional 4,146 shares during the period. Qube Research & Technologies Ltd raised its holdings in PC Connection by 71.3% in the third quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock worth $10,264,000 after purchasing an additional 68,906 shares in the last quarter. AQR Capital Management LLC raised its holdings in PC Connection by 12.6% in the second quarter. AQR Capital Management LLC now owns 139,881 shares of the company’s stock worth $9,201,000 after purchasing an additional 15,623 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in PC Connection by 3.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 116,878 shares of the company’s stock valued at $7,245,000 after buying an additional 3,666 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Trading Up 0.6%

PC Connection stock opened at $59.96 on Tuesday. The business’s fifty day simple moving average is $60.54 and its two-hundred day simple moving average is $59.84. PC Connection, Inc. has a 12 month low of $54.97 and a 12 month high of $71.17. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 18.34, a price-to-earnings-growth ratio of 1.57 and a beta of 0.83.

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

PC Connection Increases Dividend

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

Analysts Set New Price Targets

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