Victory Capital Management Inc. raised its position in shares of PC Connection, Inc. (NASDAQ:CNXN – Free Report) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,668 shares of the company’s stock after buying an additional 4,896 shares during the period. Victory Capital Management Inc. owned about 0.20% of PC Connection worth $3,648,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CNXN. Point72 DIFC Ltd bought a new stake in shares of PC Connection during the 3rd quarter valued at about $28,000. Intech Investment Management LLC bought a new stake in shares of PC Connection in the third quarter worth approximately $243,000. Amalgamated Bank lifted its holdings in 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 acquiring an additional 154 shares during the period. Illinois Municipal Retirement Fund raised its position in PC Connection by 6.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after acquiring an additional 390 shares during the period. Finally, Ieq Capital LLC grew its holdings in PC Connection by 3.5% during the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after purchasing an additional 224 shares during the period. Institutional investors own 42.85% of the company’s stock.
PC Connection Stock Performance
Shares of CNXN opened at $60.51 on Friday. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The stock has a market capitalization of $1.58 billion, a PE ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 0.61. The company’s fifty day moving average is $67.43 and its 200 day moving average is $70.39.
PC Connection Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were paid a $0.15 dividend. This is an increase from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Tuesday, February 25th. PC Connection’s dividend payout ratio is currently 18.24%.
Analyst Ratings Changes
Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.
View Our Latest Analysis on PC Connection
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.
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