Barclays PLC Purchases 23,084 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Barclays PLC raised its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 178.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,002 shares of the company’s stock after purchasing an additional 23,084 shares during the quarter. Barclays PLC owned 0.14% of PC Connection worth $2,717,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Martingale Asset Management L P grew its position in PC Connection by 0.4% during the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after buying an additional 140 shares during the period. Amalgamated Bank boosted its stake in shares of PC Connection by 4.6% during the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after acquiring an additional 154 shares during the last quarter. New York State Teachers Retirement System boosted its stake in shares of PC Connection by 4.9% during the 3rd quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock worth $348,000 after acquiring an additional 216 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of PC Connection by 5.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $453,000 after acquiring an additional 300 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

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

PC Connection Stock Down 0.8 %

CNXN stock opened at $69.62 on Wednesday. The business’s 50-day moving average price is $71.73 and its 200-day moving average price is $70.00. The stock has a market cap of $1.83 billion, a P/E ratio of 20.42, a PEG ratio of 2.14 and a beta of 0.66. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. PC Connection’s payout ratio is currently 11.73%.

Insider Transactions at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 56.50% of the company’s stock.

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.