AlphaQuest LLC Acquires Shares of 10,616 PC Connection, Inc. (NASDAQ:CNXN)

AlphaQuest LLC bought a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,616 shares of the company’s stock, valued at approximately $735,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CNXN. State Street Corp increased its holdings in PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PC Connection by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company’s stock worth $17,437,000 after buying an additional 6,903 shares in the last quarter. Denali Advisors LLC increased its stake in shares of PC Connection by 8.0% in the fourth quarter. Denali Advisors LLC now owns 104,900 shares of the company’s stock worth $7,266,000 after buying an additional 7,800 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in PC Connection by 0.4% in the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after acquiring an additional 298 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Stock Performance

NASDAQ:CNXN opened at $62.81 on Wednesday. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The stock has a 50-day simple moving average of $68.08 and a 200 day simple moving average of $70.68.

PC Connection (NASDAQ:CNXN) last issued 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 period last year, the business posted $0.90 earnings per share. On average, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The firm also recently announced 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. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.96%. PC Connection’s payout ratio is presently 18.24%.

Wall Street Analyst Weigh In

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

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.