PC Connection, Inc. (NASDAQ:CNXN) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its stake in PC Connection, Inc. (NASDAQ:CNXN) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,441 shares of the company’s stock after buying an additional 452 shares during the period. The Manufacturers Life Insurance Company’s holdings in PC Connection were worth $414,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Illinois Municipal Retirement Fund boosted its holdings in PC Connection by 3.4% in the first quarter. Illinois Municipal Retirement Fund now owns 6,491 shares of the company’s stock valued at $428,000 after purchasing an additional 211 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of PC Connection by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 8,092 shares of the company’s stock valued at $534,000 after acquiring an additional 499 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of PC Connection by 11.3% during the second quarter. Hsbc Holdings PLC now owns 5,726 shares of the company’s stock worth $366,000 after purchasing an additional 582 shares during the period. Squarepoint Ops LLC lifted its holdings in shares of PC Connection by 18.5% during the second quarter. Squarepoint Ops LLC now owns 5,638 shares of the company’s stock worth $362,000 after purchasing an additional 880 shares during the period. Finally, Innealta Capital LLC acquired a new stake in shares of PC Connection during the second quarter worth $60,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 29th.

Insiders Place Their Bets

In other news, CEO Timothy J. Mcgrath sold 15,377 shares of PC Connection stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $70.18, for a total value of $1,079,157.86. Following the transaction, the chief executive officer now directly owns 277,691 shares of the company’s stock, valued at $19,488,354.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 56.90% of the stock is owned by corporate insiders.

PC Connection Stock Up 1.4 %

CNXN opened at $74.65 on Thursday. The firm has a market cap of $1.97 billion, a P/E ratio of 23.93, a PEG ratio of 2.11 and a beta of 0.62. PC Connection, Inc. has a 52 week low of $51.63 and a 52 week high of $77.19. The business’s fifty day simple moving average is $71.82 and its 200 day simple moving average is $67.67.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.17. PC Connection had a return on equity of 10.51% and a net margin of 3.22%. The firm had revenue of $736.48 million for the quarter, compared to analyst estimates of $703.50 million. As a group, equities analysts expect that PC Connection, Inc. will post 3.52 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 13th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, August 13th. PC Connection’s payout ratio is 12.82%.

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.