American Century Companies Inc. Has $16.88 Million Position in PC Connection, Inc. (NASDAQ:CNXN)

American Century Companies Inc. raised its position in PC Connection, Inc. (NASDAQ:CNXN) by 31.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 262,993 shares of the company’s stock after purchasing an additional 62,398 shares during the period. American Century Companies Inc.’s holdings in PC Connection were worth $16,884,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of CNXN. Innealta Capital LLC acquired a new position in shares of PC Connection in the 2nd quarter valued at $60,000. Lazard Asset Management LLC grew its stake in PC Connection by 15,593.3% in the first quarter. Lazard Asset Management LLC now owns 2,354 shares of the company’s stock valued at $155,000 after acquiring an additional 2,339 shares during the period. Acadian Asset Management LLC bought a new stake in shares of PC Connection in the first quarter worth about $281,000. Illinois Municipal Retirement Fund raised its position in shares of PC Connection by 3.4% during the first quarter. Illinois Municipal Retirement Fund now owns 6,491 shares of the company’s stock worth $428,000 after purchasing an additional 211 shares during the period. Finally, Bailard Inc. acquired a new stake in shares of PC Connection during the second quarter worth about $494,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Timothy J. Mcgrath sold 15,377 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total value of $1,079,157.86. Following the completion of the transaction, the chief executive officer now owns 277,691 shares of the company’s stock, valued at $19,488,354.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 56.90% of the stock is owned by corporate insiders.

PC Connection Stock Down 0.3 %

Shares of CNXN stock opened at $75.90 on Friday. PC Connection, Inc. has a 12-month low of $51.63 and a 12-month high of $76.65. The firm has a fifty day moving average of $70.00 and a 200-day moving average of $66.60. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.09 and a beta of 0.62.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.17. The firm had revenue of $736.48 million during the quarter, compared to analysts’ expectations of $703.50 million. PC Connection had a return on equity of 10.51% and a net margin of 3.22%. On average, equities analysts expect that PC Connection, Inc. will post 3.55 EPS for the current year.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.53%. PC Connection’s dividend payout ratio is currently 12.82%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 29th.

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.