Ieq Capital LLC Increases Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

Ieq Capital LLC raised its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,596 shares of the company’s stock after purchasing an additional 224 shares during the period. Ieq Capital LLC’s holdings in PC Connection were worth $457,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its holdings in shares of PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake in PC Connection by 5.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $453,000 after acquiring an additional 300 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of PC Connection by 5.9% during the 3rd 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 during the last quarter. New York State Teachers Retirement System grew its stake 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 worth $348,000 after acquiring an additional 216 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of PC Connection by 4.6% during the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Price Performance

CNXN stock opened at $64.40 on Thursday. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19. The company has a market cap of $1.69 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock’s fifty day moving average price is $69.07 and its 200-day moving average price is $70.95.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (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 in the previous year, the firm earned $0.90 earnings per share. As a group, analysts expect that PC Connection, Inc. will post 3.33 earnings per share 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. This represents a $0.60 annualized dividend and a yield of 0.93%. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. PC Connection’s payout ratio is 18.24%.

Analyst Upgrades and Downgrades

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

About PC Connection

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.