Los Angeles Capital Management LLC Decreases Position in PC Connection, Inc. (NASDAQ:CNXN)

Los Angeles Capital Management LLC trimmed its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 31.8% during the fourth quarter, Holdings Channel reports. The firm owned 13,717 shares of the company’s stock after selling 6,393 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PC Connection were worth $950,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNXN. Louisiana State Employees Retirement System boosted its position in PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after purchasing an additional 300 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of PC Connection by 5.9% in the third quarter. State of Alaska Department of Revenue now owns 7,051 shares of the company’s stock valued at $531,000 after acquiring an additional 395 shares in the last quarter. New York State Teachers Retirement System lifted 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 valued at $348,000 after acquiring an additional 216 shares in the last quarter. Amalgamated Bank lifted its position in shares of PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after acquiring an additional 154 shares in the last quarter. Finally, Summit Global Investments lifted its position in shares of PC Connection by 32.8% in the third quarter. Summit Global Investments now owns 10,443 shares of the company’s stock valued at $788,000 after acquiring an additional 2,581 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

PC Connection Trading Up 1.9 %

PC Connection stock opened at $63.80 on Friday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 19.39, a PEG ratio of 1.96 and a beta of 0.67. The stock has a fifty day moving average price of $68.81 and a 200 day moving average price of $70.87. PC Connection, Inc. has a 52 week low of $57.47 and a 52 week high of $77.19.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period last year, the business earned $0.90 earnings per share. As a group, equities analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.94%. PC Connection’s dividend payout ratio is currently 18.24%.

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.