PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,258 shares of the company’s stock after selling 4,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.07% of PC Connection worth $1,377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Summit Global Investments bought a new position in PC Connection in the 2nd quarter worth approximately $505,000. Bailard Inc. bought a new position in shares of PC Connection in the second quarter worth $494,000. Allspring Global Investments Holdings LLC increased its holdings in shares of PC Connection by 9.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 104,387 shares of the company’s stock valued at $6,702,000 after purchasing an additional 9,029 shares during the period. Innealta Capital LLC bought a new stake in shares of PC Connection during the second quarter valued at about $60,000. Finally, Victory Capital Management Inc. lifted its holdings in 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 during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Stock Down 1.0 %

Shares of CNXN stock opened at $73.81 on Wednesday. The stock has a 50-day simple moving average of $72.08 and a 200 day simple moving average of $69.85. The stock has a market capitalization of $1.94 billion, a P/E ratio of 21.65, a P/E/G ratio of 2.14 and a beta of 0.66. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were issued a $0.10 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. PC Connection’s payout ratio is currently 11.73%.

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 71,750 shares in the company, valued at $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 the SEC website. Company insiders own 56.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a report 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.