State of Alaska Department of Revenue Increases Position in PC Connection, Inc. (NASDAQ:CNXN)

State of Alaska Department of Revenue lifted its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,051 shares of the company’s stock after acquiring an additional 395 shares during the quarter. State of Alaska Department of Revenue’s holdings in PC Connection were worth $531,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Pacer Advisors Inc. increased its position in shares of PC Connection by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock valued at $80,781,000 after purchasing an additional 240,312 shares during the last quarter. American Century Companies Inc. increased its holdings in PC Connection by 31.1% during the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after buying an additional 62,398 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in PC Connection by 34.0% during the third quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company’s stock worth $10,552,000 after buying an additional 35,505 shares during the last quarter. Millennium Management LLC raised its position in PC Connection by 108.0% in the second quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock worth $4,158,000 after acquiring an additional 33,626 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in PC Connection by 319.4% in the second quarter. Victory Capital Management Inc. now owns 37,458 shares of the company’s stock valued at $2,405,000 after acquiring an additional 28,526 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

PC Connection Price Performance

Shares of CNXN opened at $73.50 on Friday. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19. The stock’s fifty day moving average price is $72.13 and its two-hundred day moving average price is $68.38. The firm has a market cap of $1.93 billion, a PE ratio of 21.55, a PEG ratio of 1.99 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. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend is Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

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.