Signaturefd LLC Has $37,000 Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Signaturefd LLC raised its position in PC Connection, Inc. (NASDAQ:CNXN) by 328.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 488 shares of the company’s stock after purchasing an additional 374 shares during the quarter. Signaturefd LLC’s holdings in PC Connection were worth $37,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC bought a new position in shares of PC Connection during the first quarter worth about $1,701,000. Vanguard Group Inc. boosted its position in PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock worth $68,625,000 after acquiring an additional 14,838 shares during the last quarter. Millennium Management LLC grew its stake in shares of PC Connection by 108.0% during the 2nd quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock worth $4,158,000 after acquiring an additional 33,626 shares in the last quarter. Magnetar Financial LLC acquired a new stake in shares of PC Connection in the second quarter valued at approximately $646,000. Finally, Victory Capital Management Inc. lifted its position in shares of PC Connection by 319.4% in the second quarter. Victory Capital Management Inc. now owns 37,458 shares of the company’s stock worth $2,405,000 after purchasing an additional 28,526 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 29th.

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $67.35 on Thursday. The business has a 50-day moving average of $72.50 and a 200-day moving average of $68.15. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.98 and a beta of 0.62. PC Connection, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.17. PC Connection had a return on equity of 10.51% and a net margin of 3.22%. The firm had revenue of $736.48 million during the quarter, compared to the consensus estimate of $703.50 million. On average, sell-side analysts expect that PC Connection, Inc. will post 3.52 EPS for the current year.

Insider Activity

In related news, CEO Timothy J. Mcgrath sold 15,377 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total transaction of $1,079,157.86. Following the transaction, the chief executive officer now directly owns 277,691 shares in the company, valued at approximately $19,488,354.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.50% of the stock is currently owned by insiders.

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.