Acadian Asset Management LLC grew its position in PC Connection, Inc. (NASDAQ:CNXN – Free Report) by 467.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,326 shares of the company’s stock after buying an additional 20,041 shares during the period. Acadian Asset Management LLC owned 0.09% of PC Connection worth $1,558,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in CNXN. Vanguard Group Inc. boosted its position in shares of PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock worth $68,625,000 after purchasing an additional 14,838 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of PC Connection by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 232,936 shares of the company’s stock worth $15,656,000 after purchasing an additional 3,812 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of PC Connection by 9.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 104,387 shares of the company’s stock worth $6,702,000 after purchasing an additional 9,029 shares during the period. Principal Financial Group Inc. boosted its position in shares of PC Connection by 10.5% during the 1st quarter. Principal Financial Group Inc. now owns 65,079 shares of the company’s stock worth $4,291,000 after purchasing an additional 6,185 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of PC Connection by 319.4% during the 2nd quarter. Victory Capital Management Inc. now owns 37,458 shares of the company’s stock worth $2,405,000 after purchasing an additional 28,526 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.
PC Connection Trading Up 2.6 %
Shares of CNXN opened at $72.77 on Friday. PC Connection, Inc. has a twelve month low of $51.63 and a twelve month high of $76.39. The firm’s fifty day simple moving average is $68.84 and its 200-day simple moving average is $66.30. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 23.32, a PEG ratio of 1.97 and a beta of 0.62.
PC Connection Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Tuesday, August 13th were paid a dividend of $0.10 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.40 annualized dividend and a yield of 0.55%. PC Connection’s dividend payout ratio is currently 12.82%.
Analysts Set New Price Targets
Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 29th.
View Our Latest Research Report on CNXN
Insider Buying and Selling
In related news, CEO Timothy J. Mcgrath sold 15,377 shares of PC Connection stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total transaction of $1,079,157.86. Following the sale, the chief executive officer now directly owns 277,691 shares in the company, valued at approximately $19,488,354.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 56.90% of the stock is owned by company insiders.
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.
Featured Articles
- Five stocks we like better than PC Connection
- Comparing and Trading High PE Ratio Stocks
- Can Celsius Stock Rebound? Analysts See 74% Upside Potential
- What Are Some of the Best Large-Cap Stocks to Buy?
- Kroger Stock is a Win-Win for Buy-and-Hold Investors
- Stock Average Calculator
- MarketBeat Week in Review – 9/9 – 9/13
Receive News & Ratings for PC Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection and related companies with MarketBeat.com's FREE daily email newsletter.