Price T Rowe Associates Inc. MD Has $422,000 Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Price T Rowe Associates Inc. MD grew its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 12.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,087 shares of the company’s stock after buying an additional 652 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in PC Connection were worth $422,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in CNXN. Vanguard Group Inc. grew its holdings in PC Connection by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company’s stock worth $77,464,000 after acquiring an additional 8,723 shares during the last quarter. Barclays PLC grew its holdings in PC Connection by 178.7% during the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after acquiring an additional 23,084 shares during the last quarter. Magnetar Financial LLC bought a new stake in PC Connection during the 4th quarter worth about $448,000. JPMorgan Chase & Co. grew its holdings in PC Connection by 59.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock worth $2,555,000 after acquiring an additional 12,608 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in PC Connection during the 4th quarter worth about $436,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Price Performance

CNXN opened at $69.59 on Thursday. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The firm has a 50 day simple moving average of $62.76 and a 200 day simple moving average of $67.35. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The business had revenue of $701.05 million during the quarter, compared to the consensus estimate of $646.37 million. As a group, analysts expect that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 0.86%. PC Connection’s dividend payout ratio (DPR) is currently 18.18%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, May 9th.

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.