Savant Capital LLC Invests $282,000 in PC Connection, Inc. $CNXN

Savant Capital LLC acquired a new position in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 4,282 shares of the company’s stock, valued at approximately $282,000.

A number of other large investors have also recently bought and sold shares of CNXN. Parallel Advisors LLC increased its position in PC Connection by 74.3% during the second quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after buying an additional 191 shares in the last quarter. Russell Investments Group Ltd. increased its position in PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after purchasing an additional 966 shares in the last quarter. CWM LLC raised its stake in PC Connection by 67.4% in the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $102,000 after purchasing an additional 659 shares during the last quarter. US Bancorp DE lifted its holdings in PC Connection by 481.4% in the 1st quarter. US Bancorp DE now owns 2,901 shares of the company’s stock valued at $181,000 after purchasing an additional 2,402 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of PC Connection during the 1st quarter worth about $182,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

CNXN has been the subject of a number of analyst reports. Wall Street Zen lowered shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Zacks Research downgraded PC Connection from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of PC Connection in a research note on Thursday, November 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

PC Connection Stock Performance

Shares of CNXN stock opened at $56.53 on Wednesday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 1.74 and a beta of 0.74. PC Connection, Inc. has a one year low of $55.50 and a one year high of $75.84. The company has a 50 day moving average price of $60.93 and a 200 day moving average price of $63.69.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.01 by ($0.04). The company had revenue of $709.07 million for the quarter, compared to analysts’ expectations of $749.81 million. PC Connection had a net margin of 2.91% and a return on equity of 9.64%. As a group, equities analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Tuesday, November 11th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Monday, November 10th. PC Connection’s payout ratio is 18.58%.

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.