New York State Teachers Retirement System Trims Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

New York State Teachers Retirement System reduced its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,792 shares of the company’s stock after selling 200 shares during the quarter. New York State Teachers Retirement System’s holdings in PC Connection were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in PC Connection by 0.4% in the first quarter. BlackRock Inc. now owns 2,520,827 shares of the company’s stock valued at $113,336,000 after purchasing an additional 10,195 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in PC Connection by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,878,234 shares of the company’s stock valued at $84,444,000 after purchasing an additional 23,890 shares during the last quarter. Vanguard Group Inc. increased its stake in PC Connection by 8.5% in the third quarter. Vanguard Group Inc. now owns 869,443 shares of the company’s stock valued at $39,204,000 after purchasing an additional 68,430 shares during the last quarter. Pacer Advisors Inc. increased its stake in PC Connection by 65.0% during the fourth quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock worth $45,179,000 after acquiring an additional 264,687 shares during the last quarter. Finally, State Street Corp increased its stake in PC Connection by 1.3% during the first quarter. State Street Corp now owns 442,141 shares of the company’s stock worth $19,879,000 after acquiring an additional 5,626 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Price Performance

Shares of NASDAQ:CNXN opened at $62.82 on Friday. The firm has a market capitalization of $1.66 billion, a PE ratio of 19.88, a P/E/G ratio of 1.77 and a beta of 0.66. The business has a 50-day moving average of $65.43 and a two-hundred day moving average of $62.84. PC Connection, Inc. has a 12 month low of $37.76 and a 12 month high of $70.55.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.88 by $0.02. The company had revenue of $696.47 million during the quarter, compared to analyst estimates of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. As a group, research analysts anticipate that PC Connection, Inc. will post 3.5 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 27th were paid a $0.10 dividend. The ex-dividend date was Monday, February 26th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from PC Connection’s previous quarterly dividend of $0.08. PC Connection’s dividend payout ratio (DPR) is 12.66%.

Analyst Ratings Changes

Separately, StockNews.com upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday.

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.