Vanguard Group Inc. Purchases 10,218 Shares of PC Connection, Inc. $CNXN

Vanguard Group Inc. raised its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,080,151 shares of the company’s stock after purchasing an additional 10,218 shares during the period. Vanguard Group Inc. owned 4.28% of PC Connection worth $62,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CNXN. EverSource Wealth Advisors LLC grew its holdings in PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the period. PNC Financial Services Group Inc. grew its holdings in PC Connection by 196.7% during the third quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after purchasing an additional 417 shares during the period. Quarry LP bought a new position in PC Connection during the third quarter valued at $75,000. Russell Investments Group Ltd. grew its holdings in PC Connection by 194.0% during the third quarter. Russell Investments Group Ltd. now owns 1,411 shares of the company’s stock valued at $87,000 after purchasing an additional 931 shares during the period. Finally, Tower Research Capital LLC TRC grew its holdings in PC Connection by 535.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $105,000 after purchasing an additional 1,349 shares during the period. 42.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of “Hold”.

PC Connection Price Performance

NASDAQ:CNXN opened at $64.20 on Friday. The company has a market cap of $1.62 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.60 and a beta of 0.86. The stock’s fifty day moving average price is $61.67 and its two-hundred day moving average price is $60.31. PC Connection, Inc. has a 1 year low of $54.97 and a 1 year high of $71.00.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.15. The firm had revenue of $721.87 million for the quarter, compared to the consensus estimate of $696.09 million. PC Connection had a return on equity of 10.17% and a net margin of 3.02%. On average, analysts expect that PC Connection, Inc. will post 3.93 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.2%. PC Connection’s dividend payout ratio is currently 23.26%.

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.