SG Americas Securities LLC Purchases Shares of 15,152 PC Connection, Inc. $CNXN

SG Americas Securities LLC acquired a new position in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 15,152 shares of the company’s stock, valued at approximately $939,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brown Advisory Inc. increased its position in shares of PC Connection by 65.3% during the 2nd quarter. Brown Advisory Inc. now owns 220,821 shares of the company’s stock worth $14,526,000 after purchasing an additional 87,224 shares in the last quarter. Millennium Management LLC increased its holdings in shares of PC Connection by 98.8% during the first quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock worth $7,193,000 after buying an additional 57,257 shares in the last quarter. Engineers Gate Manager LP bought a new position in shares of PC Connection in the second quarter valued at approximately $2,585,000. Bank of America Corp DE boosted its holdings in shares of PC Connection by 99.3% in the 2nd quarter. Bank of America Corp DE now owns 78,340 shares of the company’s stock worth $5,153,000 after acquiring an additional 39,041 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in PC Connection by 51.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 96,667 shares of the company’s stock worth $6,359,000 after acquiring an additional 32,859 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CNXN shares. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings restated a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

PC Connection Price Performance

CNXN stock opened at $58.51 on Tuesday. The company has a 50 day moving average price of $58.60 and a 200 day moving average price of $61.28. PC Connection, Inc. has a fifty-two week low of $54.97 and a fifty-two week high of $74.84. The stock has a market capitalization of $1.48 billion, a PE ratio of 18.11, a price-to-earnings-growth ratio of 1.54 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last announced 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 firm had revenue of $709.07 million during the quarter, compared to the consensus estimate of $749.81 million. PC Connection had a net margin of 2.91% and a return on equity of 9.61%. As a group, equities analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Tuesday, November 11th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Monday, November 10th. PC Connection’s dividend payout ratio (DPR) is presently 18.58%.

PC Connection Company Profile

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.