Sei Investments Co. Has $1.57 Million Position in PC Connection, Inc. (NASDAQ:CNXN)

Sei Investments Co. lessened its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 13.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,618 shares of the company’s stock after selling 3,491 shares during the quarter. Sei Investments Co.’s holdings in PC Connection were worth $1,567,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in CNXN. Point72 DIFC Ltd bought a new stake in PC Connection in the third quarter valued at about $28,000. Magnetar Financial LLC acquired a new stake in PC Connection during the fourth quarter valued at approximately $448,000. Illinois Municipal Retirement Fund grew its stake in shares of PC Connection by 6.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock valued at $452,000 after purchasing an additional 390 shares during the period. Ieq Capital LLC raised its holdings in shares of PC Connection by 3.5% in the 4th 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. Finally, Picton Mahoney Asset Management lifted its position in shares of PC Connection by 64.6% during the 4th quarter. Picton Mahoney Asset Management now owns 7,380 shares of the company’s stock worth $511,000 after buying an additional 2,897 shares during the period. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Price Performance

Shares of CNXN stock opened at $59.70 on Monday. The stock’s fifty day simple moving average is $64.82 and its 200 day simple moving average is $69.39. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 18.15, a P/E/G ratio of 1.96 and a beta of 0.61.

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 net margin of 3.11% and a return on equity of 9.74%. During the same quarter last year, the company posted $0.90 earnings per share. On average, research analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were issued 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 was Tuesday, February 25th. This represents a $0.60 annualized dividend and a dividend yield of 1.01%. PC Connection’s dividend payout ratio (DPR) is presently 18.24%.

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.