PC Connection, Inc. (NASDAQ:CNXN) Stock Holdings Lifted by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in PC Connection, Inc. (NASDAQ:CNXN) by 25.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 115,111 shares of the company’s stock after buying an additional 23,497 shares during the period. Teacher Retirement System of Texas owned approximately 0.44% of PC Connection worth $7,974,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of CNXN. Hotchkis & Wiley Capital Management LLC bought a new position in shares of PC Connection in the third quarter valued at $3,675,000. State Street Corp increased its holdings in shares of PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after buying an additional 23,358 shares in the last quarter. Barclays PLC grew its position in PC Connection by 178.7% during the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after purchasing an additional 23,084 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after purchasing an additional 15,916 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Stock Down 0.9 %

CNXN opened at $61.62 on Friday. The stock has a fifty day moving average of $66.61 and a 200-day moving average of $70.04. The firm has a market capitalization of $1.61 billion, a P/E ratio of 18.73, a PEG ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19.

PC Connection (NASDAQ:CNXN) last released its earnings results 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 net margin of 3.11% and a return on equity of 9.74%. During the same period in the previous year, the business posted $0.90 earnings per share. On average, analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.97%. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s dividend payout ratio is presently 18.24%.

Analysts Set New Price Targets

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

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.