PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 9.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 126,085 shares of the company’s stock after selling 13,807 shares during the period. Allspring Global Investments Holdings LLC owned about 0.48% of PC Connection worth $8,734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Hotchkis & Wiley Capital Management LLC acquired a new stake in PC Connection in the third quarter worth approximately $3,675,000. State Street Corp lifted its holdings in shares of PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares during the period. Geode Capital Management LLC grew its holdings in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after acquiring an additional 23,358 shares during the period. Barclays PLC raised its position in PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after acquiring an additional 23,084 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in PC Connection by 195.9% in the 3rd quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after acquiring an additional 15,916 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Stock Performance

Shares of NASDAQ:CNXN opened at $65.68 on Wednesday. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19. The stock has a fifty day moving average of $70.23 and a 200-day moving average of $71.20. The company has a market capitalization of $1.73 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.87 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, research analysts forecast that PC Connection, Inc. will post 3.43 EPS for the current fiscal year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, February 25th. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. PC Connection’s dividend payout ratio (DPR) is presently 12.16%.

Analyst Ratings Changes

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

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.