Victory Capital Management Inc. Buys 4,896 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Victory Capital Management Inc. raised its position in shares of PC Connection, Inc. (NASDAQ:CNXNFree 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 (NASDAQ:CNXNGet Free Report) last announced its 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 quarter in the previous year, the company posted $0.90 earnings per share. As a group, research analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

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

(Free Report)

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.

See Also

Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

Receive News & Ratings for PC Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection and related companies with MarketBeat.com's FREE daily email newsletter.