Royce & Associates LP Buys 1,442 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Royce & Associates LP increased its stake in PC Connection, Inc. (NASDAQ:CNXN) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 80,232 shares of the company’s stock after acquiring an additional 1,442 shares during the period. Royce & Associates LP owned about 0.31% of PC Connection worth $5,558,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Martingale Asset Management L P lifted its position in PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after purchasing an additional 140 shares during the last quarter. Ieq Capital LLC increased its stake in shares of PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after buying an additional 224 shares during the period. Rhumbline Advisers raised its holdings in PC Connection by 0.4% during the 4th quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after buying an additional 298 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in PC Connection during the 3rd quarter valued at $28,000. Finally, Illinois Municipal Retirement Fund grew its holdings in PC Connection by 6.4% in the 4th quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock worth $452,000 after acquiring an additional 390 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Performance

Shares of CNXN stock opened at $62.67 on Thursday. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The firm has a market cap of $1.64 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.96 and a beta of 0.61. The business’s 50 day moving average price is $66.93 and its 200-day moving average price is $70.17.

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

PC Connection Increases Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. This is a boost from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s payout ratio is currently 18.24%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of PC Connection from a “hold” rating to a “buy” rating in a research note 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.