PC Connection, Inc. (NASDAQ:CNXN) Shares Acquired by Denali Advisors LLC

Denali Advisors LLC increased its position in PC Connection, Inc. (NASDAQ:CNXN) by 8.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 104,900 shares of the company’s stock after buying an additional 7,800 shares during the period. PC Connection accounts for about 0.8% of Denali Advisors LLC’s holdings, making the stock its 24th largest holding. Denali Advisors LLC’s holdings in PC Connection were worth $7,266,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNXN. Hotchkis & Wiley Capital Management LLC acquired a new stake in PC Connection during the third quarter worth about $3,675,000. State Street Corp increased its position in PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares in the last quarter. Geode Capital Management LLC increased its position in PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares in the last quarter. Barclays PLC raised its holdings in PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after buying an additional 23,084 shares during the period. Finally, Jane Street Group LLC lifted its position in PC Connection by 195.9% during the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after buying an additional 15,916 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Trading Down 1.0 %

Shares of NASDAQ CNXN opened at $63.92 on Wednesday. The stock has a fifty day moving average price of $69.19 and a 200 day moving average price of $71.00. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19. The company has a market cap of $1.68 billion, a P/E ratio of 19.43, a P/E/G ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period last year, the business posted $0.90 earnings per share. On average, sell-side analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be given a $0.15 dividend. This is an increase from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.94%. PC Connection’s dividend payout ratio (DPR) is 18.24%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.