PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Tributary Capital Management LLC

Tributary Capital Management LLC lowered its position in PC Connection, Inc. (NASDAQ:CNXN) by 3.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 393,036 shares of the company’s stock after selling 13,452 shares during the quarter. Tributary Capital Management LLC owned approximately 1.49% of PC Connection worth $14,413,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of CNXN. PNC Financial Services Group Inc. lifted its position in shares of PC Connection by 11.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,075 shares of the company’s stock worth $91,000 after buying an additional 318 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of PC Connection by 23.6% in the 4th quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock valued at $67,000 after acquiring an additional 431 shares during the period. Victory Capital Management Inc. increased its holdings in shares of PC Connection by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 13,528 shares of the company’s stock valued at $402,000 after acquiring an additional 528 shares during the period. Citigroup Inc. increased its holdings in shares of PC Connection by 17.6% in the 4th quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock valued at $110,000 after acquiring an additional 554 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of PC Connection by 4.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,849 shares of the company’s stock valued at $679,000 after acquiring an additional 1,067 shares during the period. Institutional investors own 41.32% of the company’s stock.

NASDAQ:CNXN opened at $35.49 on Friday. The stock has a market capitalization of $935.48 million, a price-to-earnings ratio of 14.97, a PEG ratio of 1.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.07 and a current ratio of 2.60. PC Connection, Inc. has a 12-month low of $27.04 and a 12-month high of $43.05.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.04. PC Connection had a net margin of 2.44% and a return on equity of 12.51%. The company had revenue of $632.92 million during the quarter, compared to the consensus estimate of $647.08 million. During the same quarter in the prior year, the company posted $0.42 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts forecast that PC Connection, Inc. will post 2.44 earnings per share for the current year.

In related news, Director Jack L. Ferguson sold 3,000 shares of the 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 completion of 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Negrini David Beffa sold 12,300 shares of the 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 of the company’s stock, valued at approximately $4,395,330. The disclosure for this sale can be found here. 57.70% of the stock is currently owned by corporate insiders.

CNXN has been the topic of a number of recent research reports. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Tuesday. Sidoti cut shares of PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 target price on the stock. in a report on Friday, February 15th. BidaskClub cut shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Tuesday, April 16th. Finally, ValuEngine cut shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $40.00.

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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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