Royce & Associates LP Increases Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

Royce & Associates LP grew its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,232 shares of the company’s stock after buying an additional 1,442 shares during the period. Royce & Associates LP’s holdings in PC Connection were worth $5,558,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNXN. Hotchkis & Wiley Capital Management LLC bought a new stake in PC Connection during the third quarter worth about $3,675,000. State Street Corp boosted its position in shares of PC Connection by 7.4% in 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 grew its stake in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares during the last quarter. Barclays PLC increased its position in PC Connection by 178.7% during the 3rd 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 in the last quarter. Finally, Jane Street Group LLC increased its position in PC Connection by 195.9% during the 3rd 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. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Performance

Shares of CNXN stock opened at $62.67 on Thursday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The company’s 50-day moving average is $66.93 and its 200 day moving average is $70.17.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 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 quarter in the previous year, the firm posted $0.90 EPS. As a group, research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were issued a $0.15 dividend. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.96%. PC Connection’s dividend payout ratio (DPR) is presently 18.24%.

Analysts Set New Price Targets

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

About PC Connection

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.