PC Connection, Inc. (NASDAQ:CNXN) Stock Holdings Lifted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in PC Connection, Inc. (NASDAQ:CNXN) by 59.3% during the third quarter, HoldingsChannel.com reports. The fund owned 33,870 shares of the company’s stock after buying an additional 12,608 shares during the period. JPMorgan Chase & Co.’s holdings in PC Connection were worth $2,555,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of CNXN. Martingale Asset Management L P increased its stake in PC Connection by 0.4% in the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after purchasing an additional 140 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after buying an additional 154 shares during the period. New York State Teachers Retirement System increased its position in shares of PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock worth $348,000 after acquiring an additional 216 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $453,000 after acquiring an additional 300 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the 3rd quarter valued at approximately $28,000. 42.85% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

PC Connection Trading Up 0.6 %

NASDAQ:CNXN opened at $71.21 on Tuesday. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The firm has a market capitalization of $1.87 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.89 and a beta of 0.67. The business’s fifty day moving average price is $71.40 and its 200 day moving average price is $70.77.

PC Connection Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the business’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 sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 56.90% of the company’s stock.

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.