Quadrature Capital Ltd Acquires New Holdings in PC Connection, Inc. (NASDAQ:CNXN)

Quadrature Capital Ltd acquired a new stake in PC Connection, Inc. (NASDAQ:CNXN – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,752 shares of the company’s stock, valued at approximately $394,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in PC Connection by 0.5% during the third quarter. BlackRock Inc. now owns 2,424,211 shares of the company’s stock worth $109,309,000 after purchasing an additional 11,723 shares during the period. Vanguard Group Inc. increased its stake in PC Connection by 3.0% during the first quarter. Vanguard Group Inc. now owns 774,066 shares of the company’s stock worth $40,553,000 after purchasing an additional 22,765 shares during the period. State Street Corp increased its stake in PC Connection by 2.2% during the second quarter. State Street Corp now owns 419,608 shares of the company’s stock worth $18,484,000 after purchasing an additional 8,834 shares during the period. Goldman Sachs Group Inc. increased its stake in PC Connection by 11.1% during the second quarter. Goldman Sachs Group Inc. now owns 211,969 shares of the company’s stock worth $9,338,000 after purchasing an additional 21,093 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in PC Connection by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 197,678 shares of the company’s stock worth $10,356,000 after purchasing an additional 10,520 shares during the period. 42.51% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Price Performance

Shares of NASDAQ:CNXN opened at $42.95 on Monday. The firm has a market capitalization of $1.13 billion, a PE ratio of 12.71 and a beta of 0.77. The firm’s 50-day moving average is $46.44 and its two-hundred day moving average is $48.33. PC Connection, Inc. has a 1 year low of $40.71 and a 1 year high of $56.68.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Tuesday, February 21st were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 17th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.75%. PC Connection’s payout ratio is 9.47%.

Insider Buying and Selling

In related news, Chairman Patricia Gallup sold 3,553 shares of the company’s stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $50.91, for a total transaction of $180,883.23. Following the sale, the chairman now directly owns 7,066,013 shares in the company, valued at $359,730,721.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 18,920 shares of company stock worth $927,090. Company insiders own 57.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 31st.

About PC Connection

(Get Rating)

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.