Rhumbline Advisers Buys 298 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Rhumbline Advisers grew its stake in PC Connection, Inc. (NASDAQ:CNXN) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,432 shares of the company’s stock after purchasing an additional 298 shares during the quarter. Rhumbline Advisers owned approximately 0.32% of PC Connection worth $5,918,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State Street Corp raised its position in PC Connection by 7.4% in the 3rd 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 last quarter. Geode Capital Management LLC raised its holdings in shares of PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after purchasing an additional 23,358 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PC Connection by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock valued at $18,467,000 after purchasing an additional 10,925 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PC Connection during the third quarter valued at about $3,675,000. Finally, Victory Capital Management Inc. boosted its holdings in PC Connection by 27.5% during the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after purchasing an additional 10,314 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

PC Connection Trading Up 0.8 %

Shares of CNXN opened at $64.40 on Thursday. The stock has a 50 day moving average of $69.07 and a 200 day moving average of $70.95. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (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 previous year, the business earned $0.90 EPS. As a group, equities research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be given a $0.15 dividend. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.93%. PC Connection’s payout ratio is currently 18.24%.

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.