Allspring Global Investments Holdings LLC Sells 13,807 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Allspring Global Investments Holdings LLC lowered its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 9.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,085 shares of the company’s stock after selling 13,807 shares during the period. Allspring Global Investments Holdings LLC owned 0.48% of PC Connection worth $8,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. State Street Corp raised its stake in shares of PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings 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 in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of PC Connection during the 3rd quarter worth $3,675,000. Finally, Victory Capital Management Inc. grew its holdings in shares of PC Connection by 27.5% during the 3rd quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after purchasing an additional 10,314 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

PC Connection Trading Down 0.0 %

PC Connection stock opened at $65.68 on Wednesday. PC Connection, Inc. has a 12 month low of $57.47 and a 12 month high of $77.19. The company has a market capitalization of $1.73 billion, a PE ratio of 19.96, a P/E/G ratio of 1.87 and a beta of 0.67. The stock has a 50-day moving average price of $70.23 and a two-hundred day moving average price of $71.20.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) 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 prior year, the company earned $0.90 EPS. As a group, analysts predict that PC Connection, Inc. will post 3.43 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.91%. This is an increase from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. PC Connection’s dividend payout ratio (DPR) is 12.16%.

About PC Connection

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.