Teacher Retirement System of Texas Has $6.63 Million Holdings in PC Connection, Inc. $CNXN

Teacher Retirement System of Texas raised its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 12.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 114,768 shares of the company’s stock after buying an additional 12,275 shares during the quarter. Teacher Retirement System of Texas owned about 0.45% of PC Connection worth $6,629,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CNXN. Qube Research & Technologies Ltd lifted its holdings in shares of PC Connection by 71.3% during the third quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock worth $10,264,000 after buying an additional 68,906 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of PC Connection by 98.8% during the first quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock worth $7,193,000 after buying an additional 57,257 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of PC Connection during the second quarter worth approximately $2,585,000. Bank of America Corp DE lifted its holdings in shares of PC Connection by 99.3% during the second quarter. Bank of America Corp DE now owns 78,340 shares of the company’s stock worth $5,153,000 after buying an additional 39,041 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of PC Connection by 136.4% during the third quarter. Two Sigma Investments LP now owns 54,263 shares of the company’s stock worth $3,364,000 after buying an additional 31,311 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNXN. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, PC Connection currently has an average rating of “Hold”.

PC Connection Price Performance

Shares of CNXN stock opened at $64.38 on Monday. The stock has a market cap of $1.62 billion, a P/E ratio of 19.69, a price-to-earnings-growth ratio of 1.71 and a beta of 0.83. PC Connection, Inc. has a one year low of $54.97 and a one year high of $71.17. The stock has a fifty day moving average price of $60.93 and a 200 day moving average price of $60.03.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, February 4th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. The firm had revenue of $702.94 million during the quarter, compared to analysts’ expectations of $735.49 million. PC Connection had a return on equity of 9.87% and a net margin of 2.91%. Equities research analysts anticipate that PC Connection, Inc. will post 3.77 EPS for the current year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Tuesday, February 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.2%. This is an increase from PC Connection’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, February 17th. PC Connection’s dividend payout ratio (DPR) is 24.46%.

PC Connection Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.