Rhumbline Advisers Sells 10,452 Shares of PC Connection, Inc. $CNXN

Rhumbline Advisers reduced its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 10.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 89,408 shares of the company’s stock after selling 10,452 shares during the period. Rhumbline Advisers’ holdings in PC Connection were worth $5,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in shares of PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in PC Connection by 535.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock worth $105,000 after purchasing an additional 1,349 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in PC Connection in the 3rd quarter worth $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in PC Connection during the 2nd quarter worth about $202,000. Finally, Aristides Capital LLC acquired a new stake in shares of PC Connection in the 2nd quarter valued at about $228,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Zacks Research raised PC Connection from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, PC Connection has a consensus rating of “Hold”.

PC Connection Price Performance

PC Connection stock opened at $59.69 on Tuesday. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 18.25, a P/E/G ratio of 1.64 and a beta of 0.83. The firm has a 50-day moving average of $59.96 and a 200-day moving average of $60.69. PC Connection, Inc. has a one year low of $54.97 and a one year high of $71.17.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. PC Connection had a return on equity of 9.87% and a net margin of 2.91%.The business had revenue of $702.94 million for the quarter, compared to the consensus estimate of $735.49 million. As a group, sell-side analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, February 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from PC Connection’s previous quarterly dividend of $0.15. PC Connection’s dividend payout ratio (DPR) is currently 24.46%.

PC Connection Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.