PC Connection, Inc. (NASDAQ:CNXN) Shares Bought by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 27.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,772 shares of the company’s stock after buying an additional 10,314 shares during the quarter. Victory Capital Management Inc. owned approximately 0.18% of PC Connection worth $3,603,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CNXN. Pacer Advisors Inc. raised its stake in shares of PC Connection by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after buying an additional 240,312 shares during the last quarter. American Century Companies Inc. raised its stake in shares of PC Connection by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after buying an additional 62,398 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of PC Connection by 34.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company’s stock worth $10,552,000 after buying an additional 35,505 shares during the last quarter. Millennium Management LLC raised 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 buying an additional 33,626 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of PC Connection by 467.7% during the 2nd quarter. Acadian Asset Management LLC now owns 24,326 shares of the company’s stock worth $1,558,000 after buying an additional 20,041 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Trading Up 1.4 %

PC Connection stock opened at $72.74 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of 21.33, a P/E/G ratio of 2.12 and a beta of 0.63. The stock has a 50-day moving average price of $72.29 and a 200 day moving average price of $69.04. PC Connection, Inc. has a 52 week low of $57.47 and a 52 week high of $77.19.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Tuesday, November 12th. PC Connection’s dividend payout ratio is presently 11.73%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday.

Insider Buying and Selling

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 56.90% of the stock is currently owned by company 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.