Denali Advisors LLC Boosts Stake in PC Connection, Inc. (NASDAQ:CNXN)

Denali Advisors LLC raised its stake in shares of PC Connection, Inc. (NASDAQ:CNXN) by 8.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,900 shares of the company’s stock after buying an additional 7,800 shares during the quarter. PC Connection comprises about 0.8% of Denali Advisors LLC’s investment portfolio, making the stock its 24th biggest position. Denali Advisors LLC owned about 0.40% of PC Connection worth $7,266,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CNXN. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter valued at $28,000. Signaturefd LLC raised its stake in PC Connection by 328.1% in the 3rd quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares during the last quarter. Intech Investment Management LLC purchased a new position in PC Connection in the 3rd quarter valued at about $243,000. 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 purchasing an additional 154 shares during the last quarter. Finally, New York State Teachers Retirement System grew its holdings in shares of PC Connection by 4.9% during the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock worth $348,000 after buying an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Stock Performance

Shares of CNXN opened at $63.92 on Wednesday. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The company has a market capitalization of $1.68 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The stock has a fifty day moving average of $69.19 and a two-hundred day moving average of $71.00.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing the consensus estimate 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 last year, the business earned $0.90 earnings per share. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.33 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 paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.94%. This is an increase from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s dividend payout ratio is currently 18.24%.

Analyst Ratings Changes

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

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.