AQR Capital Management LLC Acquires 8,505 Shares of PC Connection, Inc. (NASDAQ:CNXN)

AQR Capital Management LLC increased its stake in PC Connection, Inc. (NASDAQ:CNXN) by 9.4% during the 4th quarter, Holdings Channel reports. The firm owned 98,797 shares of the company’s stock after purchasing an additional 8,505 shares during the quarter. AQR Capital Management LLC’s holdings in PC Connection were worth $6,844,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC increased its holdings in shares of PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after buying an additional 23,084 shares during the last quarter. JPMorgan Chase & Co. raised its position in PC Connection by 59.3% during the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock valued at $2,555,000 after purchasing an additional 12,608 shares in the last quarter. Rhumbline Advisers lifted its stake in PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock worth $5,918,000 after purchasing an additional 298 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of PC Connection by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 63,842 shares of the company’s stock worth $4,422,000 after purchasing an additional 2,138 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of PC Connection by 8.8% during the 4th quarter. New York State Common Retirement Fund now owns 35,997 shares of the company’s stock valued at $2,494,000 after purchasing an additional 2,900 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, May 1st.

PC Connection Stock Performance

Shares of CNXN opened at $67.60 on Thursday. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 1.96 and a beta of 0.67. The firm has a 50 day moving average price of $62.16 and a 200-day moving average price of $67.39.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. The business had revenue of $701.05 million during the quarter, compared to the consensus estimate of $646.37 million. As a group, equities research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be given a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 annualized dividend and a yield of 0.89%. PC Connection’s payout ratio is 18.18%.

PC Connection Company Profile

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.