Two Sigma Investments LP Has $254,000 Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

Two Sigma Investments LP lowered its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 61.6% in the fourth quarter, HoldingsChannel reports. The firm owned 3,668 shares of the company’s stock after selling 5,896 shares during the period. Two Sigma Investments LP’s holdings in PC Connection were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. ProShare Advisors LLC acquired a new stake in shares of PC Connection during the 4th quarter worth about $243,000. Nuveen Asset Management LLC increased its position in shares of PC Connection by 12.7% during the 4th quarter. Nuveen Asset Management LLC now owns 113,261 shares of the company’s stock worth $7,846,000 after purchasing an additional 12,795 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of PC Connection by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company’s stock worth $456,000 after purchasing an additional 234 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of PC Connection by 131.3% during the 4th quarter. Lazard Asset Management LLC now owns 41,687 shares of the company’s stock worth $2,887,000 after purchasing an additional 23,667 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of PC Connection by 40.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 20,031 shares of the company’s stock worth $1,388,000 after purchasing an additional 5,810 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 9th.

PC Connection Stock Down 1.0%

Shares of NASDAQ:CNXN opened at $65.12 on Thursday. PC Connection, Inc. has a 12 month low of $56.82 and a 12 month high of $77.19. The company’s 50-day moving average price is $64.50 and its two-hundred day moving average price is $66.80. The firm has a market cap of $1.65 billion, a P/E ratio of 19.79, a P/E/G ratio of 1.96 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 EPS 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 firm had revenue of $701.05 million for the quarter, compared to analyst estimates of $646.37 million. As a group, equities analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend was Tuesday, May 13th. PC Connection’s dividend payout ratio is currently 18.18%.

Insiders Place Their Bets

In other PC Connection news, CEO Timothy J. Mcgrath sold 5,440 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the sale, the chief executive officer now owns 260,387 shares of the company’s stock, valued at $17,458,948.35. This represents a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack L. Ferguson sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total transaction of $66,320.00. Following the completion of the transaction, the director now directly owns 66,055 shares in the company, valued at $4,380,767.60. This trade represents a 1.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,005 shares of company stock valued at $2,205,614 in the last 90 days. 55.20% of the stock is currently owned by insiders.

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.