JPMorgan Chase & Co. Buys 17,808 Shares of PC Connection, Inc. $CNXN

JPMorgan Chase & Co. increased its stake in PC Connection, Inc. (NASDAQ:CNXN) by 63.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 46,021 shares of the company’s stock after buying an additional 17,808 shares during the period. JPMorgan Chase & Co.’s holdings in PC Connection were worth $2,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in PC Connection by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock valued at $38,000 after buying an additional 500 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of PC Connection by 196.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after buying an additional 417 shares during the period. Quarry LP purchased a new position in shares of PC Connection in the 3rd quarter worth $75,000. Russell Investments Group Ltd. boosted its stake in shares of PC Connection by 194.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,411 shares of the company’s stock worth $87,000 after buying an additional 931 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings 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 worth $105,000 after acquiring an additional 1,349 shares during the period. Institutional investors own 42.85% of the company’s stock.

Wall Street Analyst Weigh In

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

PC Connection Price Performance

Shares of PC Connection stock opened at $59.60 on Monday. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $71.17. The company’s fifty day simple moving average is $60.48 and its 200-day simple moving average is $59.86. The stock has a market capitalization of $1.50 billion, a PE ratio of 18.23, a P/E/G ratio of 1.57 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. PC Connection had a return on equity of 9.87% and a net margin of 2.91%.The firm had revenue of $702.94 million during the quarter, compared to analyst estimates of $735.49 million. As a group, research analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. This is an increase from PC Connection’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 17th. PC Connection’s dividend payout ratio is 24.46%.

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.