Louisiana State Employees Retirement System Grows Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

Louisiana State Employees Retirement System grew its position in PC Connection, Inc. (NASDAQ:CNXN) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,000 shares of the company’s stock after purchasing an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in PC Connection were worth $453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new position in shares of PC Connection in the 1st quarter valued at about $1,701,000. Vanguard Group Inc. lifted its stake in shares of PC Connection by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after purchasing an additional 14,838 shares in the last quarter. Millennium Management LLC lifted its stake in shares of PC Connection by 108.0% in the 2nd quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock valued at $4,158,000 after purchasing an additional 33,626 shares in the last quarter. Magnetar Financial LLC acquired a new position in PC Connection during the 2nd quarter worth approximately $646,000. Finally, Victory Capital Management Inc. lifted its position in 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 acquiring an additional 28,526 shares in the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Stock Up 1.1 %

CNXN stock opened at $68.11 on Wednesday. PC Connection, Inc. has a 52-week low of $57.47 and a 52-week high of $77.19. The stock’s 50 day moving average is $72.04 and its two-hundred day moving average is $68.29. The company has a market capitalization of $1.79 billion, a PE ratio of 19.97, a P/E/G ratio of 1.92 and a beta of 0.63.

PC Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.59%. PC Connection’s dividend payout ratio is presently 11.73%.

Analysts Set New Price Targets

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 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.