11,323 Shares in PC Connection, Inc. $CNXN Bought by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in PC Connection, Inc. (NASDAQ:CNXN) during the second quarter, according to its most recent filing with the SEC. The firm acquired 11,323 shares of the company’s stock, valued at approximately $826,000.

Several other institutional investors also recently bought and sold shares of CNXN. EverSource Wealth Advisors LLC raised its position in PC Connection by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of PC Connection by 196.7% in the third quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after acquiring an additional 417 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of PC Connection by 200.4% during the first quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock worth $41,000 after acquiring an additional 473 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of PC Connection during the first quarter worth about $44,000. Finally, Quarry LP purchased a new position in PC Connection during the third quarter worth about $75,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Stock Up 0.4%

Shares of CNXN opened at $78.86 on Wednesday. The company has a 50-day simple moving average of $77.26 and a 200-day simple moving average of $68.08. The company has a market capitalization of $1.99 billion, a PE ratio of 20.86, a P/E/G ratio of 1.94 and a beta of 0.86. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $88.31.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.00 by $0.31. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. The firm had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $764.79 million. On average, research analysts anticipate that PC Connection, Inc. will post 4.18 EPS for the current year.

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. PC Connection’s payout ratio is 21.16%.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNXN. Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Finally, Weiss Ratings raised PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Strong Buy”.

Insider Activity at PC Connection

In related news, Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $86.34, for a total value of $616,640.28. Following the sale, the chairman owned 6,977,753 shares in the company, valued at $602,459,194.02. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 35,734 shares of company stock worth $2,665,153. 56.60% of the stock is owned by insiders.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.