Quest Partners LLC lowered its position in PC Connection, Inc. (NASDAQ:CNXN – Free Report) by 76.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 625 shares of the company’s stock after selling 2,008 shares during the period. Quest Partners LLC’s holdings in PC Connection were worth $40,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of CNXN. Victory Capital Management Inc. raised its holdings in shares of PC Connection by 319.4% in the second quarter. Victory Capital Management Inc. now owns 37,458 shares of the company’s stock worth $2,405,000 after buying an additional 28,526 shares during the period. SG Americas Securities LLC purchased a new stake in PC Connection in the first quarter worth $1,701,000. Allspring Global Investments Holdings LLC lifted its position in shares of PC Connection by 34.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock worth $6,287,000 after purchasing an additional 24,539 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of PC Connection by 467.7% during the second quarter. Acadian Asset Management LLC now owns 24,326 shares of the company’s stock valued at $1,558,000 after purchasing an additional 20,041 shares during the period. Finally, Vanguard Group Inc. grew its holdings in shares of PC Connection by 1.4% in the first 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 last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.
PC Connection Stock Performance
Shares of NASDAQ CNXN opened at $73.84 on Thursday. PC Connection, Inc. has a 52-week low of $51.63 and a 52-week high of $76.39. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of 23.67, a PEG ratio of 2.00 and a beta of 0.62. The stock has a 50 day moving average price of $69.52 and a 200 day moving average price of $66.46.
PC Connection Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, August 13th. PC Connection’s payout ratio is 12.82%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 29th.
Read Our Latest Report on CNXN
Insider Buying and Selling at PC Connection
In other news, CEO Timothy J. Mcgrath sold 15,377 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total value of $1,079,157.86. Following the completion of the sale, the chief executive officer now owns 277,691 shares of the company’s stock, valued at approximately $19,488,354.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 56.90% of the company’s stock.
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.
Read More
- Five stocks we like better than PC Connection
- Golden Cross Stocks: Pattern, Examples and Charts
- How Much Can You Make in Stocks in One Month?
- How to Capture the Benefits of Dividend Increases
- This Is the Top Large-Cap Stock Insiders Are Buying
- How Technical Indicators Can Help You Find Oversold Stocks
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Want to see what other hedge funds are holding CNXN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PC Connection, Inc. (NASDAQ:CNXN – Free Report).
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.