Intech Investment Management LLC Makes New $243,000 Investment in PC Connection, Inc. (NASDAQ:CNXN)

Intech Investment Management LLC purchased a new stake in PC Connection, Inc. (NASDAQ:CNXN) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,220 shares of the company’s stock, valued at approximately $243,000.

Several other institutional investors have also recently made changes to their positions in CNXN. Signaturefd LLC grew its holdings in shares of PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after buying an additional 374 shares during the last quarter. Innealta Capital LLC acquired a new position in PC Connection during the 2nd quarter valued at about $60,000. CWM LLC increased its holdings in PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after purchasing an additional 473 shares in the last quarter. nVerses Capital LLC raised its stake in shares of PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after purchasing an additional 154 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Trading Down 1.2 %

CNXN stock opened at $73.26 on Friday. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 21.48, a price-to-earnings-growth ratio of 2.20 and a beta of 0.66. The company’s 50 day moving average is $72.09 and its 200 day moving average is $69.54.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s payout ratio is 11.73%.

Insider Activity at PC Connection

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

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

PC Connection Company 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.