US Bancorp DE Has $32,000 Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

US Bancorp DE reduced its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 77.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 430 shares of the company’s stock after selling 1,479 shares during the quarter. US Bancorp DE’s holdings in PC Connection were worth $32,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in shares of PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock valued at $348,000 after buying an additional 216 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of PC Connection by 5.9% in the third quarter. State of Alaska Department of Revenue now owns 7,051 shares of the company’s stock valued at $531,000 after buying an additional 395 shares during the period. Louisiana State Employees Retirement System lifted its holdings in PC Connection by 5.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after buying an additional 300 shares during the period. Signaturefd LLC grew its stake in PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock worth $37,000 after purchasing an additional 374 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of PC Connection by 34.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company’s stock worth $10,552,000 after purchasing an additional 35,505 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 29th.

PC Connection Trading Down 0.6 %

Shares of CNXN stock opened at $69.70 on Tuesday. The firm’s 50 day moving average is $72.27 and its 200 day moving average is $68.88. The stock has a market capitalization of $1.83 billion, a P/E ratio of 20.44, a PEG ratio of 2.07 and a beta of 0.63. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. PC Connection’s dividend payout ratio is presently 11.73%.

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.