12,536 Shares in PC Connection, Inc. (NASDAQ:CNXN) Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC acquired a new position in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 12,536 shares of the company’s stock, valued at approximately $593,000.

Other institutional investors also recently modified their holdings of the company. Citigroup Inc. raised its position in shares of PC Connection by 184.7% during the 4th quarter. Citigroup Inc. now owns 3,784 shares of the company’s stock worth $179,000 after purchasing an additional 2,455 shares during the last quarter. LPL Financial LLC acquired a new position in shares of PC Connection during the 4th quarter worth approximately $256,000. 6 Meridian raised its position in shares of PC Connection by 4.3% during the 4th quarter. 6 Meridian now owns 6,273 shares of the company’s stock worth $297,000 after purchasing an additional 261 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of PC Connection by 9.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 8,475 shares of the company’s stock worth $351,000 after purchasing an additional 707 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of PC Connection during the 3rd quarter worth approximately $393,000. Hedge funds and other institutional investors own 44.02% of the company’s stock.

In other news, Director Jack L. Ferguson sold 3,000 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $47.11, for a total transaction of $141,330.00. Following the completion of the sale, the director now directly owns 83,680 shares of the company’s stock, valued at approximately $3,942,164.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 58.10% of the stock is owned by insiders.

Separately, Zacks Investment Research cut shares of PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, February 26th.

CNXN stock opened at $45.30 on Friday. The stock has a market capitalization of $1.19 billion, a P/E ratio of 19.53 and a beta of 0.76. PC Connection, Inc. has a one year low of $35.49 and a one year high of $55.21. The company has a 50 day moving average price of $47.37 and a two-hundred day moving average price of $47.31.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, February 24th. The company reported $0.62 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.62. The firm had revenue of $675.69 million during the quarter, compared to analysts’ expectations of $651.84 million. PC Connection had a net margin of 2.33% and a return on equity of 10.19%. On average, equities analysts anticipate that PC Connection, Inc. will post 2.08 earnings per share for the current year.

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.

Further Reading: Hedge Funds – How They Work For Investors

Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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