AlphaQuest LLC Invests $735,000 in PC Connection, Inc. (NASDAQ:CNXN)

AlphaQuest LLC acquired a new stake in PC Connection, Inc. (NASDAQ:CNXN) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,616 shares of the company’s stock, valued at approximately $735,000.

Other large investors have also recently added to or reduced their stakes in the company. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter valued at about $28,000. Intech Investment Management LLC acquired a new position in shares of PC Connection during the 3rd quarter worth approximately $243,000. Amalgamated Bank lifted its stake in PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after buying an additional 154 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in PC Connection by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock valued at $452,000 after buying an additional 390 shares during the last quarter. Finally, Ieq Capital LLC increased its position in PC Connection by 3.5% during the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after buying an additional 224 shares in the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $62.81 on Wednesday. The company has a 50-day simple moving average of $68.08 and a 200-day simple moving average of $70.68. The company has a market cap of $1.64 billion, a PE ratio of 19.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month 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 return on equity of 9.74% and a net margin of 3.11%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. On average, analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.96%. PC Connection’s dividend payout ratio is 18.24%.

Wall Street Analyst Weigh In

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

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.