AlphaQuest LLC Purchases 6,138 Shares of PC Connection, Inc. $CNXN

AlphaQuest LLC grew its position in shares of PC Connection, Inc. (NASDAQ:CNXN) by 131.5% in the 2nd quarter, Holdings Channel reports. The firm owned 10,805 shares of the company’s stock after acquiring an additional 6,138 shares during the quarter. AlphaQuest LLC’s holdings in PC Connection were worth $711,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its holdings in PC Connection by 74.3% during the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after purchasing an additional 966 shares during the last quarter. CWM LLC raised its holdings in PC Connection by 67.4% during the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $102,000 after purchasing an additional 659 shares during the last quarter. GAMMA Investing LLC raised its holdings in PC Connection by 333.4% during the 1st quarter. GAMMA Investing LLC now owns 2,167 shares of the company’s stock worth $135,000 after purchasing an additional 1,667 shares during the last quarter. Finally, US Bancorp DE raised its holdings in PC Connection by 481.4% during the 1st quarter. US Bancorp DE now owns 2,901 shares of the company’s stock worth $181,000 after purchasing an additional 2,402 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Trading Down 1.0%

NASDAQ CNXN opened at $62.07 on Tuesday. The company has a fifty day simple moving average of $62.55 and a 200 day simple moving average of $63.97. PC Connection, Inc. has a 12-month low of $56.72 and a 12-month high of $75.84. The company has a market cap of $1.58 billion, a P/E ratio of 18.92, a PEG ratio of 1.79 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $759.69 million during the quarter, compared to the consensus estimate of $774.66 million. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. Sell-side analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNXN. Wall Street Zen lowered shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Saturday, August 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of PC Connection in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, PC Connection has an average rating of “Hold”.

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.