PC Connection, Inc. $CNXN Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its stake in PC Connection, Inc. (NASDAQ:CNXN) by 8.9% in Q2, now holding 96,129 shares valued at $6.32 million. Other institutional investors also adjusted their holdings. The stock is currently rated as "Hold" by analysts, with a recent price of $59.96, down 1.5%. PC Connection reported Q3 earnings of $0.97 EPS, missing estimates, and declared a quarterly dividend of $0.15 per share, payable on November 28.

Teacher Retirement System of Texas trimmed its stake in PC Connection, Inc. (NASDAQ:CNXN - Free Report) by 8.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,129 shares of the company's stock after selling 9,412 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.38% of PC Connection worth $6,323,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AlphaQuest LLC boosted its position in shares of PC Connection by 131.5% in the 2nd quarter. AlphaQuest LLC now owns 10,805 shares of the company's stock valued at $711,000 after purchasing an additional 6,138 shares during the period. Denali Advisors LLC lifted its stake in PC Connection by 25.7% during the second quarter. Denali Advisors LLC now owns 66,631 shares of the company's stock valued at $4,383,000 after buying an additional 13,608 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in shares of PC Connection during the second quarter valued at approximately $2,154,000. CWM LLC raised its holdings in shares of PC Connection by 158.2% during the second quarter. CWM LLC now owns 4,226 shares of the company's stock valued at $278,000 after acquiring an additional 2,589 shares during the period. Finally, KLP Kapitalforvaltning AS raised its holdings in shares of PC Connection by 13.3% during the second quarter. KLP Kapitalforvaltning AS now owns 14,500 shares of the company's stock valued at $954,000 after acquiring an additional 1,700 shares during the period. Institutional investors and hedge funds own 42.85% of the company's stock.

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Analyst Ratings Changes

CNXN has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of PC Connection in a research note on Wednesday, October 8th. Wall Street Zen lowered PC Connection from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

View Our Latest Research Report on PC Connection

PC Connection Stock Down 1.5%

CNXN stock opened at $59.96 on Friday. PC Connection, Inc. has a 12-month low of $55.50 and a 12-month high of $75.84. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 18.56, a PEG ratio of 1.74 and a beta of 0.70. The company has a 50 day moving average of $62.48 and a two-hundred day moving average of $63.96.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its earnings results on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.01 by ($0.04). PC Connection had a return on equity of 9.64% and a net margin of 2.91%.The company had revenue of $709.07 million during the quarter, compared to analysts' expectations of $749.81 million. On average, research analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th will be issued 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 is Monday, November 10th. PC Connection's payout ratio is currently 18.58%.

PC Connection Profile

(Free Report)

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.

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