Jane Street Group LLC Has $1.69 Million Position in PC Connection, Inc. (NASDAQ:CNXN)

Jane Street Group LLC boosted its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,460 shares of the company’s stock after purchasing an additional 420 shares during the quarter. Jane Street Group LLC’s holdings in PC Connection were worth $1,694,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its position in PC Connection by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company’s stock valued at $77,464,000 after purchasing an additional 8,723 shares during the period. Barclays PLC grew its position in PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after purchasing an additional 23,084 shares during the period. Magnetar Financial LLC acquired a new stake in PC Connection in the 4th quarter valued at $448,000. JPMorgan Chase & Co. grew its position in PC Connection by 59.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock valued at $2,555,000 after purchasing an additional 12,608 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in PC Connection in the 4th quarter valued at $436,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Price Performance

CNXN opened at $69.70 on Friday. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 21.19, a P/E/G ratio of 1.96 and a beta of 0.67. The firm’s fifty day moving average price is $63.04 and its two-hundred day moving average price is $67.35. 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 data on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.18. The firm had revenue of $701.05 million for the quarter, compared to the consensus estimate of $646.37 million. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The company also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, May 13th. PC Connection’s dividend payout ratio is 18.18%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report 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.