Victory Capital Management Inc. Boosts Stake in PC Connection, Inc. (NASDAQ:CNXN)

Victory Capital Management Inc. boosted its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 10.2% in the fourth quarter, HoldingsChannel reports. The fund owned 52,668 shares of the company’s stock after purchasing an additional 4,896 shares during the quarter. Victory Capital Management Inc.’s holdings in PC Connection were worth $3,648,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CNXN. Hotchkis & Wiley Capital Management LLC acquired a new position in PC Connection during the 3rd quarter valued at approximately $3,675,000. State Street Corp grew its position in shares of 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 purchasing an additional 34,248 shares during the period. Geode Capital Management LLC increased its stake in 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 in the last quarter. Barclays PLC raised its stake in PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after purchasing an additional 23,084 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after buying an additional 15,916 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Trading Up 1.2 %

Shares of NASDAQ:CNXN opened at $60.51 on Friday. The company has a market capitalization of $1.58 billion, a PE ratio of 18.39, a P/E/G ratio of 1.96 and a beta of 0.61. The firm has a 50 day simple moving average of $67.43 and a 200-day simple moving average of $70.39. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19.

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

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. This is an increase from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, February 25th. PC Connection’s payout ratio is presently 18.24%.

Analyst Ratings Changes

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

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.