Dynamic Technology Lab Private Ltd Invests $259,000 in PC Connection, Inc. $CNXN

Dynamic Technology Lab Private Ltd purchased a new position in PC Connection, Inc. (NASDAQ:CNXN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,930 shares of the company’s stock, valued at approximately $259,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in PC Connection during the second quarter valued at about $202,000. Campbell & CO Investment Adviser LLC increased its position in shares of PC Connection by 26.0% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 10,708 shares of the company’s stock valued at $704,000 after purchasing an additional 2,212 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of PC Connection during the 2nd quarter valued at about $580,000. Savant Capital LLC bought a new stake in PC Connection in the 2nd quarter worth approximately $282,000. Finally, AlphaQuest LLC boosted its stake in PC Connection by 131.5% in the second quarter. AlphaQuest LLC now owns 10,805 shares of the company’s stock worth $711,000 after buying an additional 6,138 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Stock Up 2.2%

Shares of CNXN opened at $58.43 on Wednesday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 18.09, a PEG ratio of 1.74 and a beta of 0.74. The firm has a fifty day simple moving average of $60.28 and a two-hundred day simple moving average of $63.29. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $75.84.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The firm had revenue of $709.07 million during the quarter, compared to analysts’ expectations of $749.81 million. PC Connection had a net margin of 2.91% and a return on equity of 9.64%. Sell-side analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Tuesday, November 11th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. PC Connection’s dividend payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

Several research firms have commented on CNXN. Weiss Ratings reissued a “hold (c)” rating on shares of PC Connection in a research note on Wednesday, November 19th. Wall Street Zen cut shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Zacks Research lowered shares of PC Connection from a “hold” rating to a “strong sell” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce”.

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.