Prudential Financial Inc. Boosts Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Prudential Financial Inc. boosted its stake in PC Connection, Inc. (NASDAQ:CNXN) by 54.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,431 shares of the company’s stock after acquiring an additional 20,534 shares during the period. Prudential Financial Inc. owned 0.22% of PC Connection worth $4,099,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its holdings in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares during the period. Jane Street Group LLC increased its position in PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after buying an additional 15,916 shares during the last quarter. State Street Corp raised its stake in shares of PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares during the period. Barclays PLC lifted its position in shares of PC Connection by 178.7% during the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after buying an additional 23,084 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of PC Connection by 59.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock worth $2,555,000 after acquiring an additional 12,608 shares during the period. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Stock Up 1.1 %

CNXN opened at $63.10 on Wednesday. The firm has a 50-day moving average price of $65.49 and a 200-day moving average price of $69.66. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.96 and a beta of 0.61. PC Connection, Inc. has a twelve month low of $57.47 and a twelve month high of $77.19.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same period in the previous year, the firm posted $0.90 EPS. On average, sell-side analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were paid a dividend of $0.15 per share. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.95%. PC Connection’s dividend payout ratio (DPR) is currently 18.24%.

About PC Connection

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.