AlphaQuest LLC Purchases 14,492 Shares of PC Connection, Inc. $CNXN

AlphaQuest LLC increased its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 134.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,297 shares of the company’s stock after acquiring an additional 14,492 shares during the period. AlphaQuest LLC’s holdings in PC Connection were worth $1,568,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNXN. EverSource Wealth Advisors LLC raised its position in PC Connection by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of PC Connection by 535.3% in the second quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $105,000 after buying an additional 1,349 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of PC Connection in the third quarter valued at about $159,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of PC Connection in the second quarter valued at about $202,000. Finally, Aristides Capital LLC acquired a new position in PC Connection during the 2nd quarter worth about $228,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Trading Up 1.3%

Shares of NASDAQ:CNXN opened at $58.81 on Friday. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $74.84. The stock has a market capitalization of $1.48 billion, a P/E ratio of 18.21, a P/E/G ratio of 1.53 and a beta of 0.81. The business has a 50-day moving average price of $58.60 and a two-hundred day moving average price of $60.74.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Zacks Research raised shares of PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reissued a “hold (c)” rating on shares of PC Connection in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

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.