Metropolitan Life Insurance Co. NY Has $130,000 Stake in PC Connection, Inc. (CNXN)

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Metropolitan Life Insurance Co. NY grew its position in PC Connection, Inc. (NASDAQ:CNXN) by 344.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,373 shares of the company’s stock after buying an additional 3,389 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in PC Connection were worth $130,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its stake in shares of PC Connection by 11.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,075 shares of the company’s stock valued at $91,000 after buying an additional 318 shares during the period. Victory Capital Management Inc. boosted its position in shares of PC Connection by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 13,528 shares of the company’s stock worth $402,000 after purchasing an additional 528 shares during the period. Citigroup Inc. boosted its position in shares of PC Connection by 17.6% during the 4th quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock worth $110,000 after purchasing an additional 554 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of PC Connection by 4.9% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,849 shares of the company’s stock worth $679,000 after purchasing an additional 1,067 shares during the period. Finally, Boston Partners boosted its position in shares of PC Connection by 1.8% during the 4th quarter. Boston Partners now owns 63,968 shares of the company’s stock worth $1,902,000 after purchasing an additional 1,144 shares during the period. 41.50% of the stock is owned by institutional investors and hedge funds.

A number of research firms recently weighed in on CNXN. Sidoti cut shares of PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 price objective for the company. in a research report on Friday, February 15th. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $38.00 price objective for the company in a research report on Friday, February 8th. BidaskClub cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 20th. Finally, ValuEngine cut shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $39.33.

In other PC Connection news, Director Jack L. Ferguson sold 3,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $41.65, for a total transaction of $124,950.00. Following the sale, the director now directly owns 87,680 shares in the company, valued at approximately $3,651,872. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Negrini David Beffa sold 12,300 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $40.14, for a total transaction of $493,722.00. Following the sale, the director now owns 109,500 shares in the company, valued at $4,395,330. The disclosure for this sale can be found here. Company insiders own 57.10% of the company’s stock.

NASDAQ:CNXN opened at $35.68 on Friday. The company has a market cap of $940.38 million, a P/E ratio of 15.05, a P/E/G ratio of 1.83 and a beta of 1.08. PC Connection, Inc. has a fifty-two week low of $26.30 and a fifty-two week high of $43.05.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Thursday, February 7th. The company reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.14. The firm had revenue of $709.50 million during the quarter, compared to analysts’ expectations of $693.49 million. PC Connection had a net margin of 2.39% and a return on equity of 12.41%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter last year, the company posted $0.77 EPS. As a group, analysts expect that PC Connection, Inc. will post 2.44 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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