PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP trimmed its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 14.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 4,495 shares of the company’s stock after selling 789 shares during the quarter. Brevan Howard Capital Management LP’s holdings in PC Connection were worth $311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CNXN. Ieq Capital LLC grew its stake in PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock valued at $457,000 after acquiring an additional 224 shares in the last quarter. EntryPoint Capital LLC increased its holdings in shares of PC Connection by 8.3% in the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock valued at $223,000 after purchasing an additional 248 shares during the last quarter. Rhumbline Advisers lifted its position in PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock worth $5,918,000 after buying an additional 298 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its stake in PC Connection by 6.4% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,336 shares of the company’s stock worth $370,000 after buying an additional 319 shares during the last quarter. Finally, Sterling Capital Management LLC grew its holdings in PC Connection by 6.3% in the 4th quarter. Sterling Capital Management LLC now owns 5,609 shares of the company’s stock valued at $389,000 after buying an additional 331 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday.

PC Connection Price Performance

PC Connection stock opened at $69.13 on Friday. The firm has a 50 day simple moving average of $62.40 and a 200-day simple moving average of $67.32. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a 1-year low of $56.82 and a 1-year high of $77.19.

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

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be given a $0.15 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.87%. PC Connection’s payout ratio is currently 18.18%.

PC Connection 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.