PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP trimmed its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 14.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,495 shares of the company’s stock after selling 789 shares during the quarter. Brevan Howard Capital Management LP’s holdings in PC Connection were worth $311,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in shares of PC Connection by 25.6% in the fourth quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company’s stock worth $7,974,000 after buying an additional 23,497 shares during the last quarter. Barclays PLC boosted its position in PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after purchasing an additional 23,084 shares in the last quarter. Prudential Financial Inc. grew its stake in shares of PC Connection by 54.2% during the 4th quarter. Prudential Financial Inc. now owns 58,431 shares of the company’s stock worth $4,099,000 after purchasing an additional 20,534 shares during the period. Invesco Ltd. increased its holdings in shares of PC Connection by 8.2% during the 4th quarter. Invesco Ltd. now owns 268,455 shares of the company’s stock valued at $18,596,000 after purchasing an additional 20,383 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of PC Connection by 48.3% in the 4th quarter. JPMorgan Chase & Co. now owns 50,222 shares of the company’s stock valued at $3,479,000 after purchasing an additional 16,352 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Trading Up 0.1 %

NASDAQ CNXN opened at $69.13 on Friday. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The stock has a 50-day moving average of $62.40 and a 200 day moving average of $67.32. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. The firm had revenue of $701.05 million for the quarter, compared to analyst estimates of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. Equities analysts predict that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.87%. PC Connection’s dividend payout ratio (DPR) is presently 18.18%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday.

About PC Connection

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.