Quantinno Capital Management LP Acquires 9,947 Shares of PC Connection, Inc. $CNXN

Quantinno Capital Management LP lifted its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 137.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,166 shares of the company’s stock after buying an additional 9,947 shares during the quarter. Quantinno Capital Management LP’s holdings in PC Connection were worth $1,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CNXN. Dimensional Fund Advisors LP grew its holdings in PC Connection by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,526,494 shares of the company’s stock worth $89,237,000 after acquiring an additional 4,345 shares during the period. Vanguard Group Inc. lifted its stake in shares of PC Connection by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock valued at $62,390,000 after purchasing an additional 10,218 shares during the period. Geode Capital Management LLC boosted its position in shares of PC Connection by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock worth $21,777,000 after purchasing an additional 2,945 shares during the last quarter. Invesco Ltd. boosted its position in shares of PC Connection by 22.1% in the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock worth $12,662,000 after purchasing an additional 39,716 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of PC Connection by 71.3% during the third quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock worth $10,264,000 after purchasing an additional 68,906 shares during the period. 42.85% of the stock is owned by institutional investors.

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $81.08 on Monday. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $88.31. The stock has a market cap of $2.05 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.94 and a beta of 0.86. The company’s fifty day moving average is $77.02 and its 200-day moving average is $67.78.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.31. The business had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $764.79 million. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. On average, research analysts anticipate that PC Connection, Inc. will post 4.18 EPS for the current fiscal year.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 11th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 11th. PC Connection’s dividend payout ratio is 21.16%.

Insider Activity at PC Connection

In other news, Chairman Patricia Gallup sold 7,142 shares of PC Connection stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $86.34, for a total transaction of $616,640.28. Following the transaction, the chairman owned 6,977,753 shares in the company, valued at $602,459,194.02. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 35,734 shares of company stock worth $2,665,153 over the last quarter. Company insiders own 56.60% of the company’s stock.

Wall Street Analyst Weigh In

CNXN has been the subject of a number of recent analyst reports. Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings upgraded PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Finally, Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

PC Connection Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.