Algert Global LLC Purchases 3,298 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Algert Global LLC increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 38.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,918 shares of the company’s stock after purchasing an additional 3,298 shares during the quarter. Algert Global LLC’s holdings in PC Connection were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CNXN. Jane Street Group LLC increased its stake in shares of PC Connection by 1.7% during the fourth quarter. Jane Street Group LLC now owns 24,460 shares of the company’s stock valued at $1,694,000 after buying an additional 420 shares during the period. AQR Capital Management LLC increased its position in PC Connection by 9.4% during the 4th quarter. AQR Capital Management LLC now owns 98,797 shares of the company’s stock valued at $6,844,000 after purchasing an additional 8,505 shares during the period. Tudor Investment Corp ET AL raised its holdings in PC Connection by 1.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 28,448 shares of the company’s stock worth $1,971,000 after purchasing an additional 468 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of PC Connection in the 4th quarter worth about $282,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of PC Connection by 12.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,087 shares of the company’s stock valued at $422,000 after purchasing an additional 652 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Stock Up 0.1 %

Shares of CNXN stock opened at $69.13 on Friday. The business’s fifty day moving average is $62.40 and its 200 day moving average is $67.32. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. Equities research 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 will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.87%. PC Connection’s payout ratio is currently 18.18%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday.

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.