Hsbc Holdings PLC Grows Position in PC Connection, Inc. (NASDAQ:CNXN)

Hsbc Holdings PLC increased its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 33.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,968 shares of the company’s stock after acquiring an additional 1,252 shares during the quarter. Hsbc Holdings PLC’s holdings in PC Connection were worth $341,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CNXN. Tower Research Capital LLC TRC lifted its position in PC Connection by 156.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,209 shares of the company’s stock valued at $292,000 after acquiring an additional 2,570 shares during the last quarter. MetLife Investment Management LLC lifted its position in PC Connection by 9.7% during the 4th quarter. MetLife Investment Management LLC now owns 7,082 shares of the company’s stock worth $491,000 after acquiring an additional 624 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of PC Connection by 6.3% during the fourth quarter. Sterling Capital Management LLC now owns 5,609 shares of the company’s stock worth $389,000 after purchasing an additional 331 shares during the period. Renaissance Technologies LLC raised its holdings in PC Connection by 5.7% during the fourth quarter. Renaissance Technologies LLC now owns 61,700 shares of the company’s stock worth $4,274,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in shares of PC Connection by 8.1% during the 4th quarter. Legal & General Group Plc now owns 34,572 shares of the company’s stock worth $2,395,000 after buying an additional 2,593 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Friday.

PC Connection Stock Up 2.2 %

PC Connection stock opened at $69.06 on Friday. The firm’s 50-day simple moving average is $62.28 and its 200 day simple moving average is $67.37. PC Connection, Inc. has a 52 week low of $56.82 and a 52 week high of $77.19. The firm has a market capitalization of $1.75 billion, a PE ratio of 20.99, a P/E/G ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to analysts’ expectations of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. On average, research analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, May 13th. PC Connection’s dividend payout ratio is presently 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.