UBS Group AG Grows Stake in PC Connection, Inc. $CNXN

UBS Group AG grew its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 189.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,814 shares of the company’s stock after purchasing an additional 58,831 shares during the period. UBS Group AG’s holdings in PC Connection were worth $5,188,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CNXN. Amundi purchased a new position in shares of PC Connection during the 1st quarter valued at $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after purchasing an additional 312 shares in the last quarter. Millennium Management LLC grew its position in shares of PC Connection by 98.8% during the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after purchasing an additional 57,257 shares in the last quarter. Invesco Ltd. grew its position in shares of PC Connection by 2.4% during the 2nd quarter. Invesco Ltd. now owns 179,487 shares of the company’s stock valued at $11,807,000 after purchasing an additional 4,146 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of PC Connection by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Stock Performance

NASDAQ CNXN opened at $64.18 on Friday. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $68.88. The company has a market capitalization of $1.62 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.65 and a beta of 0.86. The company has a fifty day moving average of $62.01 and a 200-day moving average of $60.42.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The company had revenue of $721.87 million during the quarter, compared to the consensus estimate of $696.09 million. As a group, analysts forecast that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, May 12th. PC Connection’s payout ratio is currently 23.26%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

About PC Connection

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.