Susquehanna Fundamental Investments LLC Makes New $1.47 Million Investment in PC Connection, Inc. $CNXN

Susquehanna Fundamental Investments LLC acquired a new stake in PC Connection, Inc. (NASDAQ:CNXN) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 20,113 shares of the company’s stock, valued at approximately $1,468,000.

Several other large investors have also made changes to their positions in CNXN. BlackRock Inc. acquired a new position in shares of PC Connection during the 2nd quarter worth approximately $158,833,000. Dimensional Fund Advisors LP grew its stake in PC Connection by 0.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,526,494 shares of the company’s stock valued at $89,237,000 after acquiring an additional 4,345 shares during the period. Vanguard Group Inc. increased its holdings in PC Connection by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after acquiring an additional 10,218 shares in the last quarter. Geode Capital Management LLC increased its holdings in PC Connection by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock worth $21,777,000 after acquiring an additional 2,945 shares in the last quarter. Finally, Invesco Ltd. raised its position in PC Connection by 22.1% during the fourth quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock worth $12,662,000 after acquiring an additional 39,716 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Chairman Patricia Gallup sold 7,142 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $78.64, for a total value of $561,646.88. Following the completion of the sale, the chairman directly owned 6,963,469 shares in the company, valued at $547,607,202.16. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 42,876 shares of company stock worth $3,226,800 over the last ninety days. 56.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have issued reports on CNXN. Weiss Ratings raised shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

PC Connection Price Performance

NASDAQ CNXN opened at $80.07 on Wednesday. The company has a market cap of $2.02 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 1.91 and a beta of 0.86. The stock’s 50 day simple moving average is $78.82 and its 200-day simple moving average is $69.23. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $88.31.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.00 by $0.31. PC Connection had a return on equity of 10.90% and a net margin of 3.21%.The firm had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $764.79 million. On average, equities research analysts anticipate that PC Connection, Inc. will post 4.18 EPS for the current fiscal year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. PC Connection’s dividend payout ratio is presently 21.16%.

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.