Moran Wealth Management LLC Acquires New Stake in PC Connection, Inc. $CNXN

Moran Wealth Management LLC bought a new stake in PC Connection, Inc. (NASDAQ:CNXN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,743 shares of the company’s stock, valued at approximately $2,154,000.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC raised its holdings in PC Connection by 74.3% in the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the period. Vident Advisory LLC increased its position in PC Connection by 3.2% in the first quarter. Vident Advisory LLC now owns 7,157 shares of the company’s stock worth $447,000 after buying an additional 223 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of PC Connection by 3.9% in the second quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock worth $467,000 after buying an additional 266 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after buying an additional 312 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of PC Connection by 23,450.0% during the 1st quarter. Farther Finance Advisors LLC now owns 471 shares of the company’s stock valued at $30,000 after acquiring an additional 469 shares during the period. 42.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of PC Connection in a research note on Wednesday, October 8th. Wall Street Zen downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, PC Connection presently has a consensus rating of “Hold”.

PC Connection Price Performance

CNXN stock opened at $61.24 on Thursday. PC Connection, Inc. has a 1-year low of $56.72 and a 1-year high of $75.84. The business has a 50 day simple moving average of $62.59 and a two-hundred day simple moving average of $63.87. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 1.74 and a beta of 0.70.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $759.69 million for the quarter, compared to the consensus estimate of $774.66 million. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. Sell-side analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Tuesday, August 12th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Tuesday, August 12th. PC Connection’s dividend payout ratio is currently 18.29%.

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.