Brown Advisory Inc. Raises Holdings in PC Connection, Inc. $CNXN

Brown Advisory Inc. raised its position in PC Connection, Inc. (NASDAQ:CNXN) by 65.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 220,821 shares of the company’s stock after purchasing an additional 87,224 shares during the period. Brown Advisory Inc.’s holdings in PC Connection were worth $14,526,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CNXN. Parallel Advisors LLC raised its position in shares of PC Connection by 74.3% in the second quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after buying an additional 191 shares during the last quarter. Vident Advisory LLC grew its stake in PC Connection by 3.2% during the 1st quarter. Vident Advisory LLC now owns 7,157 shares of the company’s stock valued at $447,000 after acquiring an additional 223 shares in the last quarter. Prudential Financial Inc. raised its holdings in PC Connection by 0.9% in the 2nd quarter. Prudential Financial Inc. now owns 31,255 shares of the company’s stock valued at $2,189,000 after acquiring an additional 264 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in PC Connection by 3.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $467,000 after purchasing an additional 266 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PC Connection by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Price Performance

Shares of NASDAQ CNXN opened at $58.26 on Monday. The company has a 50 day simple moving average of $59.63 and a 200-day simple moving average of $62.67. The company has a market capitalization of $1.47 billion, a P/E ratio of 18.04, a P/E/G ratio of 1.71 and a beta of 0.82. PC Connection, Inc. has a 1 year low of $54.97 and a 1 year high of $75.35.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The business had revenue of $709.07 million during the quarter, compared to analyst estimates of $749.81 million. PC Connection had a net margin of 2.91% and a return on equity of 9.61%. As a group, research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, November 10th. PC Connection’s dividend payout ratio is 18.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNXN. Weiss Ratings restated a “hold (c+)” rating on shares of PC Connection in a research report on Monday, December 1st. Zacks Research lowered PC Connection from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, PC Connection has a consensus 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.