Intech Investment Management LLC Lowers Position in PC Connection, Inc. $CNXN

Intech Investment Management LLC decreased its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 12.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,216 shares of the company’s stock after selling 912 shares during the period. Intech Investment Management LLC’s holdings in PC Connection were worth $409,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CNXN. American Century Companies Inc. boosted its position in shares of PC Connection by 7.7% during the 1st quarter. American Century Companies Inc. now owns 320,915 shares of the company’s stock valued at $20,032,000 after acquiring an additional 23,082 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in PC Connection in the first quarter valued at approximately $279,000. Voya Investment Management LLC lifted its position in PC Connection by 45.7% during the first quarter. Voya Investment Management LLC now owns 19,164 shares of the company’s stock valued at $1,196,000 after purchasing an additional 6,009 shares during the last quarter. Public Sector Pension Investment Board grew its stake in PC Connection by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 39,153 shares of the company’s stock worth $2,444,000 after buying an additional 8,402 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in shares of PC Connection by 25.7% in the 2nd quarter. Denali Advisors LLC now owns 66,631 shares of the company’s stock worth $4,383,000 after buying an additional 13,608 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNXN has been the subject of a number of research analyst reports. Zacks Research downgraded shares of PC Connection from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a research note on Wednesday, November 19th. Finally, Wall Street Zen lowered PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PC Connection has an average rating of “Reduce”.

PC Connection Stock Down 0.5%

PC Connection stock opened at $58.00 on Friday. The firm has a fifty day simple moving average of $59.99 and a two-hundred day simple moving average of $63.09. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $75.84. The company has a market capitalization of $1.46 billion, a PE ratio of 17.96, a P/E/G ratio of 1.74 and a beta of 0.74.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The company had revenue of $709.07 million for the quarter, compared to the consensus estimate of $749.81 million. PC Connection had a net margin of 2.91% and a return on equity of 9.64%. As a group, equities analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Tuesday, November 11th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend was Monday, November 10th. PC Connection’s payout ratio is 18.58%.

PC Connection 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.