Thrivent Financial for Lutherans Has $855,000 Stake in PC Connection, Inc. (NASDAQ:CNXN)

Thrivent Financial for Lutherans lifted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 20.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,338 shares of the company’s stock after acquiring an additional 1,927 shares during the period. Thrivent Financial for Lutherans’ holdings in PC Connection were worth $855,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC grew its stake in PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after acquiring an additional 374 shares during the period. Innealta Capital LLC acquired a new position in PC Connection during the second quarter worth $60,000. CWM LLC lifted its stake in shares of PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after buying an additional 473 shares in the last quarter. nVerses Capital LLC lifted its stake in shares of PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after buying an additional 1,000 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in shares of PC Connection by 4.6% during the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after buying an additional 154 shares during the last quarter. 42.85% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

PC Connection Stock Down 1.2 %

Shares of PC Connection stock opened at $74.53 on Wednesday. PC Connection, Inc. has a 52 week low of $57.47 and a 52 week high of $77.19. The business has a 50 day moving average price of $72.15 and a 200-day moving average price of $69.48. The company has a market cap of $1.96 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 2.23 and a beta of 0.66.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid 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, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insiders Place Their Bets

In other news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 56.50% of the company’s stock.

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.