Ieq Capital LLC Lowers Stock Holdings in PC Connection, Inc. $CNXN

Ieq Capital LLC decreased its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 11.3% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,850 shares of the company’s stock after selling 746 shares during the quarter. Ieq Capital LLC’s holdings in PC Connection were worth $365,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Nuveen Asset Management LLC lifted its stake 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 valued at $7,846,000 after buying an additional 12,795 shares in the last quarter. SG Americas Securities LLC bought a new stake in PC Connection in the 1st quarter valued at $339,000. GAMMA Investing LLC increased its holdings in PC Connection by 333.4% in the 1st quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock valued at $135,000 after acquiring an additional 1,667 shares during the last quarter. American Century Companies Inc. increased its holdings in PC Connection by 7.7% in the 1st quarter. American Century Companies Inc. now owns 320,915 shares of the company’s stock valued at $20,032,000 after acquiring an additional 23,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in PC Connection in the 1st quarter valued at $279,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

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

PC Connection Stock Down 1.2%

PC Connection stock opened at $65.56 on Friday. The company’s 50-day moving average price is $64.24 and its 200-day moving average price is $64.07. PC Connection, Inc. has a twelve month low of $56.72 and a twelve month high of $77.19. The company has a market cap of $1.66 billion, a PE ratio of 19.99, a price-to-earnings-growth ratio of 1.89 and a beta of 0.73.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. The firm had revenue of $759.69 million for the quarter, compared to the consensus estimate of $774.66 million. As a group, sell-side analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Announces Dividend

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

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.