Bailard Inc. Purchases 1,400 Shares of PC Connection, Inc. (NASDAQ:CNXN)

Bailard Inc. increased its position in PC Connection, Inc. (NASDAQ:CNXN) by 23.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,400 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. Bailard Inc.’s holdings in PC Connection were worth $513,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Denali Advisors LLC raised its stake in shares of PC Connection by 8.0% in the 4th quarter. Denali Advisors LLC now owns 104,900 shares of the company’s stock valued at $7,266,000 after buying an additional 7,800 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in PC Connection by 6.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 6,519 shares of the company’s stock valued at $452,000 after acquiring an additional 390 shares during the period. Ieq Capital LLC increased its stake in PC Connection by 3.5% in the fourth quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after acquiring an additional 224 shares during the period. New York State Common Retirement Fund raised its position in PC Connection by 8.8% in the fourth quarter. New York State Common Retirement Fund now owns 35,997 shares of the company’s stock worth $2,494,000 after purchasing an additional 2,900 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in PC Connection by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 63,842 shares of the company’s stock worth $4,422,000 after purchasing an additional 2,138 shares during the period. 42.85% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

PC Connection Price Performance

PC Connection stock opened at $63.25 on Wednesday. PC Connection, Inc. has a 52-week low of $57.47 and a 52-week high of $77.19. The stock has a fifty day moving average price of $68.67 and a two-hundred day moving average price of $70.89. The firm has a market capitalization of $1.65 billion, a P/E ratio of 19.22, a P/E/G ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter last year, the firm posted $0.90 EPS. On average, equities research analysts predict that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s payout ratio is 18.24%.

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.