American Century Companies Inc. Takes Position in PC Connection, Inc. (CNXN)

American Century Companies Inc. acquired a new stake in shares of PC Connection, Inc. (NASDAQ:CNXN) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 65,415 shares of the company’s stock, valued at approximately $1,945,000. American Century Companies Inc. owned approximately 0.25% of PC Connection at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royce & Associates LP lifted its holdings in PC Connection by 0.4% during the 4th quarter. Royce & Associates LP now owns 1,165,456 shares of the company’s stock valued at $34,649,000 after buying an additional 4,574 shares in the last quarter. Morgan Stanley lifted its holdings in PC Connection by 57.1% during the 3rd quarter. Morgan Stanley now owns 77,457 shares of the company’s stock valued at $3,012,000 after buying an additional 28,163 shares in the last quarter. Citigroup Inc. lifted its holdings in PC Connection by 17.6% during the 4th quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock valued at $110,000 after buying an additional 554 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in PC Connection by 298.9% during the 3rd quarter. Alliancebernstein L.P. now owns 41,880 shares of the company’s stock valued at $1,629,000 after buying an additional 31,380 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in PC Connection by 56.6% during the 4th quarter. New York State Common Retirement Fund now owns 29,811 shares of the company’s stock valued at $886,000 after buying an additional 10,769 shares in the last quarter. Institutional investors own 41.32% of the company’s stock.

A number of research analysts have commented on the stock. Sidoti downgraded shares of PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a research report on Friday, February 15th. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research report on Friday, February 8th. ValuEngine downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. Finally, BidaskClub downgraded shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. PC Connection currently has an average rating of “Hold” and an average target price of $40.00.

In other PC Connection news, Director Jack L. Ferguson sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $41.65, for a total transaction of $124,950.00. Following the sale, the director now owns 87,680 shares of the company’s stock, valued at approximately $3,651,872. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Negrini David Beffa sold 12,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $40.14, for a total transaction of $493,722.00. Following the sale, the director now directly owns 109,500 shares in the company, valued at approximately $4,395,330. The disclosure for this sale can be found here. 57.70% of the stock is owned by insiders.

NASDAQ CNXN traded up $0.57 during trading on Thursday, reaching $35.49. 37,811 shares of the company’s stock traded hands, compared to its average volume of 66,599. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.07 and a current ratio of 2.60. The company has a market capitalization of $935.48 million, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06. PC Connection, Inc. has a 12-month low of $27.04 and a 12-month high of $43.05.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.04. PC Connection had a net margin of 2.44% and a return on equity of 12.51%. The firm had revenue of $632.92 million for the quarter, compared to the consensus estimate of $647.08 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that PC Connection, Inc. will post 2.44 earnings per share for the current fiscal year.

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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.

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Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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