Vanguard Group Inc. Has $66.33 Million Stock Holdings in PC Connection, Inc. $CNXN

Vanguard Group Inc. trimmed its position in PC Connection, Inc. (NASDAQ:CNXN) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,933 shares of the company’s stock after selling 37,767 shares during the period. Vanguard Group Inc.’s holdings in PC Connection were worth $66,325,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Denali Advisors LLC boosted its holdings in PC Connection by 30.4% in the third quarter. Denali Advisors LLC now owns 86,900 shares of the company’s stock worth $5,387,000 after acquiring an additional 20,269 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of PC Connection by 63.1% during the third quarter. JPMorgan Chase & Co. now owns 46,021 shares of the company’s stock valued at $2,853,000 after acquiring an additional 17,808 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of PC Connection by 196.7% during the third quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock worth $39,000 after purchasing an additional 417 shares during the period. Public Sector Pension Investment Board raised its position in shares of PC Connection by 9.6% during the third quarter. Public Sector Pension Investment Board now owns 44,541 shares of the company’s stock worth $2,761,000 after purchasing an additional 3,896 shares during the period. Finally, Haven Private LLC bought a new position in shares of PC Connection in the 3rd quarter worth $328,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Stock Performance

Shares of CNXN opened at $60.69 on Friday. The firm has a market capitalization of $1.53 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.63 and a beta of 0.83. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $71.17. The stock has a 50 day moving average price of $60.17 and a two-hundred day moving average price of $60.62.

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

PC Connection Increases Dividend

The business 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. This is a boost from PC Connection’s previous quarterly dividend of $0.15. The ex-dividend date was Tuesday, February 17th. This represents a $0.80 annualized dividend and a yield of 1.3%. PC Connection’s dividend payout ratio (DPR) is 24.46%.

Analyst Ratings Changes

Several research firms recently issued reports on CNXN. Weiss Ratings reissued 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 note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

PC Connection Company 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.