PC Connection, Inc. (NASDAQ:CNXN) Shares Bought by American Century Companies Inc.

American Century Companies Inc. raised its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 297,833 shares of the company’s stock after purchasing an additional 2,965 shares during the period. American Century Companies Inc. owned 1.13% of PC Connection worth $20,631,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CNXN. Thrivent Financial for Lutherans boosted its stake in shares of PC Connection by 20.5% during the third quarter. Thrivent Financial for Lutherans now owns 11,338 shares of the company’s stock valued at $855,000 after acquiring an additional 1,927 shares during the last quarter. Intech Investment Management LLC purchased a new position in PC Connection in the 3rd quarter valued at about $243,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PC Connection by 4.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock worth $18,467,000 after purchasing an additional 10,925 shares during the last quarter. FMR LLC grew its holdings in shares of PC Connection by 33.0% during the third quarter. FMR LLC now owns 41,108 shares of the company’s stock worth $3,101,000 after buying an additional 10,206 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its position in shares of PC Connection by 5.2% in the third quarter. Public Sector Pension Investment Board now owns 26,242 shares of the company’s stock valued at $1,979,000 after buying an additional 1,300 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Stock Performance

Shares of CNXN opened at $61.93 on Monday. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19. The company’s 50 day simple moving average is $65.85 and its 200 day simple moving average is $69.79. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 1.96 and a beta of 0.61.

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 period in the previous year, the business posted $0.90 EPS. Equities analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th were issued a $0.15 dividend. This is a boost from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.97%. PC Connection’s payout ratio is 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.