6,465 Shares in PC Connection, Inc. (NASDAQ:CNXN) Bought by Magnetar Financial LLC

Magnetar Financial LLC purchased a new stake in PC Connection, Inc. (NASDAQ:CNXN) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 6,465 shares of the company’s stock, valued at approximately $448,000.

A number of other large investors have also recently added to or reduced their stakes in CNXN. Hotchkis & Wiley Capital Management LLC acquired a new stake in PC Connection in the third quarter valued at $3,675,000. State Street Corp lifted its stake in 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 acquiring an additional 34,248 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in PC Connection by 25.6% in the fourth quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company’s stock valued at $7,974,000 after acquiring an additional 23,497 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 buying an additional 23,358 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of 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 buying an additional 23,084 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

PC Connection Stock Performance

NASDAQ CNXN opened at $61.62 on Friday. The firm has a 50-day moving average of $66.61 and a 200-day moving average of $70.04. The stock has a market cap of $1.61 billion, a PE ratio of 18.73, a P/E/G ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a 52-week low of $57.47 and a 52-week high of $77.19.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.78 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 quarter in the prior year, the business earned $0.90 EPS. As a group, analysts predict that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.97%. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. PC Connection’s dividend payout ratio (DPR) is currently 18.24%.

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.