Martingale Asset Management L P Acquires 140 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Martingale Asset Management L P lifted its stake in PC Connection, Inc. (NASDAQ:CNXN) by 0.4% during the third quarter, Holdings Channel reports. The fund owned 37,098 shares of the company’s stock after acquiring an additional 140 shares during the quarter. Martingale Asset Management L P’s holdings in PC Connection were worth $2,798,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its position in shares of PC Connection by 5.2% in the third quarter. Public Sector Pension Investment Board now owns 26,242 shares of the company’s stock valued at $1,979,000 after purchasing an additional 1,300 shares during the period. FMR LLC grew its stake in PC Connection by 33.0% in the 3rd quarter. FMR LLC now owns 41,108 shares of the company’s stock valued at $3,101,000 after buying an additional 10,206 shares during the last quarter. Algert Global LLC bought a new position in PC Connection in the 3rd quarter worth $650,000. Charles Schwab Investment Management Inc. raised its holdings in PC Connection by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock worth $18,467,000 after acquiring an additional 10,925 shares during the period. Finally, Intech Investment Management LLC acquired a new position in PC Connection during the 3rd quarter worth $243,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

PC Connection Price Performance

Shares of PC Connection stock opened at $72.58 on Friday. The company has a market cap of $1.91 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The firm has a fifty day moving average price of $72.12 and a two-hundred day moving average price of $69.35. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, November 12th. PC Connection’s payout ratio is presently 11.73%.

Insider Activity at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 56.90% of the company’s stock.

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.