SG Americas Securities LLC Makes New Investment in PC Connection, Inc. (NASDAQ:CNXN)

SG Americas Securities LLC acquired a new position in shares of PC Connection, Inc. (NASDAQ:CNXN) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,429 shares of the company’s stock, valued at approximately $339,000.

Other institutional investors have also recently bought and sold shares of the company. Rhumbline Advisers boosted its position in shares of PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock worth $5,918,000 after purchasing an additional 298 shares in the last quarter. Principal Financial Group Inc. raised its holdings in PC Connection by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 63,842 shares of the company’s stock worth $4,422,000 after acquiring an additional 2,138 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in shares of PC Connection by 8.8% in the 4th quarter. New York State Common Retirement Fund now owns 35,997 shares of the company’s stock valued at $2,494,000 after buying an additional 2,900 shares during the last quarter. Ieq Capital LLC lifted its stake in PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after acquiring an additional 224 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of PC Connection by 6.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after acquiring an additional 390 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Trading Down 1.9%

NASDAQ CNXN opened at $65.81 on Thursday. The firm’s 50 day simple moving average is $65.42 and its 200 day simple moving average is $66.19. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 1.94 and a beta of 0.70. PC Connection, Inc. has a 1 year low of $56.82 and a 1 year 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, beating analysts’ consensus estimates of $0.42 by $0.18. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. The company had revenue of $701.05 million for the quarter, compared to the consensus estimate of $646.37 million. On average, equities research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend was Tuesday, May 13th. PC Connection’s dividend payout ratio (DPR) is currently 18.18%.

Insider Buying and Selling

In other PC Connection news, Director Jack L. Ferguson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the transaction, the director now directly owns 66,055 shares in the company, valued at approximately $4,380,767.60. This represents a 1.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy J. Mcgrath sold 26,565 shares of PC Connection stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the completion of the sale, the chief executive officer now directly owns 265,827 shares of the company’s stock, valued at approximately $17,757,243.60. This trade represents a 9.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,005 shares of company stock valued at $2,205,614 in the last three months. Insiders own 55.20% of the company’s stock.

Analysts Set New Price Targets

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

PC Connection 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.