PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Strs Ohio

Strs Ohio lessened its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 18.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,500 shares of the company’s stock after selling 2,100 shares during the period. Strs Ohio’s holdings in PC Connection were worth $638,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Arizona State Retirement System acquired a new stake in shares of PC Connection during the 4th quarter worth about $222,000. Maryland State Retirement & Pension System acquired a new stake in shares of PC Connection during the 3rd quarter worth about $222,000. Jump Financial LLC acquired a new stake in shares of PC Connection during the 3rd quarter worth about $272,000. Louisiana State Employees Retirement System acquired a new stake in shares of PC Connection during the 4th quarter worth about $383,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of PC Connection during the 3rd quarter worth about $332,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

PC Connection Stock Down 1.1 %

CNXN opened at $63.69 on Friday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 20.28, a price-to-earnings-growth ratio of 1.87 and a beta of 0.66. PC Connection, Inc. has a 52 week low of $38.13 and a 52 week high of $70.55. The business’s 50 day moving average is $65.23 and its two-hundred day moving average is $63.13.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. Equities analysts expect that PC Connection, Inc. will post 3.48 EPS for the current fiscal year.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were given a dividend of $0.10 per share. This is a positive change from PC Connection’s previous quarterly dividend of $0.08. The ex-dividend date was Monday, February 26th. This represents a $0.40 annualized dividend and a yield of 0.63%. PC Connection’s payout ratio is 12.66%.

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.