Charles Schwab Investment Management Inc. Increases Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Charles Schwab Investment Management Inc. boosted its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,721 shares of the company’s stock after buying an additional 6,903 shares during the period. Charles Schwab Investment Management Inc. owned 0.96% of PC Connection worth $17,437,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Point72 DIFC Ltd acquired a new position in shares of PC Connection in the 3rd quarter valued at $28,000. Intech Investment Management LLC purchased a new stake in shares of PC Connection during the third quarter worth about $243,000. Illinois Municipal Retirement Fund increased its position in shares of PC Connection by 6.4% during the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after purchasing an additional 390 shares in the last quarter. Ieq Capital LLC lifted its stake in PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after purchasing an additional 224 shares in the last quarter. Finally, Bailard Inc. boosted its stake in PC Connection by 23.3% during the fourth quarter. Bailard Inc. now owns 7,400 shares of the company’s stock worth $513,000 after buying an additional 1,400 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

PC Connection Price Performance

NASDAQ:CNXN opened at $62.19 on Friday. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19. The firm has a market capitalization of $1.63 billion, a PE ratio of 18.90, a price-to-earnings-growth ratio of 1.96 and a beta of 0.61. The business’s fifty day moving average price is $66.77 and its 200 day moving average price is $70.11.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter last year, the firm posted $0.90 EPS. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.96%. This is a boost from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. PC Connection’s dividend payout ratio is presently 18.24%.

PC Connection Company 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.