Geode Capital Management LLC Increases Stake in PC Connection, Inc. (NASDAQ:CNXN)

Geode Capital Management LLC increased its stake in PC Connection, Inc. (NASDAQ:CNXN) by 7.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,130 shares of the company’s stock after purchasing an additional 23,358 shares during the period. Geode Capital Management LLC’s holdings in PC Connection were worth $26,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new position in shares of PC Connection in the third quarter valued at about $28,000. Signaturefd LLC boosted its position in PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after buying an additional 374 shares during the last quarter. CWM LLC boosted its position in PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after buying an additional 473 shares during the last quarter. nVerses Capital LLC increased its holdings in PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after buying an additional 1,000 shares during the period. Finally, Intech Investment Management LLC purchased a new position in PC Connection during the 3rd quarter worth approximately $243,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, Director Negrini David Beffa sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares in the company, valued at $5,022,500. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 56.90% of the stock is owned by corporate insiders.

PC Connection Stock Performance

NASDAQ:CNXN opened at $69.47 on Friday. The firm’s fifty day moving average is $71.53 and its two-hundred day moving average is $70.00. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 2.14 and a beta of 0.66. PC Connection, Inc. has a one year low of $57.47 and a one year high of $77.19.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.58%. PC Connection’s payout ratio is 11.73%.

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.