Trexquant Investment LP Has $1.51 Million Stock Position in PC Connection, Inc. $CNXN

Trexquant Investment LP trimmed its position in PC Connection, Inc. (NASDAQ:CNXN) by 26.2% in the first quarter, Holdings Channel.com reports. The firm owned 24,168 shares of the company’s stock after selling 8,592 shares during the period. Trexquant Investment LP’s holdings in PC Connection were worth $1,509,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in PC Connection by 12.7% in the fourth 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 during the period. SG Americas Securities LLC acquired a new stake in PC Connection in the first quarter worth about $339,000. GAMMA Investing LLC boosted its holdings in PC Connection by 333.4% during the first quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock worth $135,000 after buying an additional 1,667 shares during the last quarter. American Century Companies Inc. boosted its holdings in PC Connection by 7.7% during the first quarter. American Century Companies Inc. now owns 320,915 shares of the company’s stock worth $20,032,000 after buying an additional 23,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PC Connection during the first quarter worth about $279,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Trading Down 1.2%

Shares of CNXN opened at $65.56 on Friday. PC Connection, Inc. has a 1 year low of $56.72 and a 1 year high of $77.19. The stock has a market cap of $1.66 billion, a P/E ratio of 19.99, a price-to-earnings-growth ratio of 1.89 and a beta of 0.73. The stock’s 50-day moving average price is $64.24 and its two-hundred day moving average price is $64.07.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.06. PC Connection had a return on equity of 9.74% and a net margin of 2.97%.The business had revenue of $759.69 million for the quarter, compared to analysts’ expectations of $774.66 million. As a group, equities analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 12th. PC Connection’s payout ratio is 18.29%.

Analyst Ratings Changes

Separately, Wall Street Zen cut PC Connection from a “buy” rating to a “hold” rating in a report on Saturday, August 2nd.

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.