New York State Common Retirement Fund Raises Stock Holdings in PC Connection, Inc. (NASDAQ:CNXN)

New York State Common Retirement Fund increased its position in PC Connection, Inc. (NASDAQ:CNXN) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,997 shares of the company’s stock after purchasing an additional 2,900 shares during the period. New York State Common Retirement Fund owned 0.14% of PC Connection worth $2,494,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in PC Connection by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 63,842 shares of the company’s stock worth $4,422,000 after acquiring an additional 2,138 shares in the last quarter. Rhumbline Advisers lifted its holdings in PC Connection by 0.4% in the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after acquiring an additional 298 shares during the period. JPMorgan Chase & Co. lifted its holdings in PC Connection by 59.3% in the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock valued at $2,555,000 after acquiring an additional 12,608 shares during the period. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 23,358 shares during the period. Finally, Barclays PLC increased 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 buying an additional 23,084 shares in the last quarter. 42.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

PC Connection Trading Up 1.9 %

NASDAQ:CNXN opened at $63.80 on Friday. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19. The stock has a 50-day moving average price of $68.81 and a 200 day moving average price of $70.87. The stock has a market capitalization of $1.67 billion, a P/E ratio of 19.39, a P/E/G ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share 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 firm posted $0.90 EPS. On average, research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.94%. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. PC Connection’s dividend payout ratio (DPR) is presently 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.