UBS Group AG Raises Position in PC Connection, Inc. $CNXN

UBS Group AG lifted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 189.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,814 shares of the company’s stock after purchasing an additional 58,831 shares during the period. UBS Group AG owned 0.36% of PC Connection worth $5,188,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after purchasing an additional 312 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of PC Connection by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock worth $286,000 after purchasing an additional 348 shares during the last quarter. State of Wyoming grew its stake in PC Connection by 8.2% in the 2nd quarter. State of Wyoming now owns 5,321 shares of the company’s stock valued at $350,000 after buying an additional 401 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in PC Connection by 196.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after buying an additional 417 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in PC Connection by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock valued at $38,000 after buying an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, PC Connection presently has an average rating of “Hold”.

PC Connection Price Performance

PC Connection stock opened at $64.18 on Friday. PC Connection, Inc. has a one year low of $54.97 and a one year high of $68.88. The business has a fifty day moving average price of $62.01 and a 200-day moving average price of $60.42. The firm has a market capitalization of $1.62 billion, a P/E ratio of 18.66, a PEG ratio of 1.65 and a beta of 0.86.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. PC Connection had a return on equity of 10.17% and a net margin of 3.02%.The firm had revenue of $721.87 million during the quarter, compared to analyst estimates of $696.09 million. Sell-side analysts expect that PC Connection, Inc. will post 3.93 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, May 12th. PC Connection’s payout ratio is 23.26%.

About PC Connection

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.