Connor Clark & Lunn Investment Management Ltd. Buys Shares of 8,819 PC Connection, Inc. $CNXN

Connor Clark & Lunn Investment Management Ltd. purchased a new position in PC Connection, Inc. (NASDAQ:CNXN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 8,819 shares of the company’s stock, valued at approximately $580,000.

A number of other large investors also recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of PC Connection by 74.3% in the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock valued at $29,000 after acquiring an additional 191 shares during the period. Russell Investments Group Ltd. raised its stake in shares of PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after acquiring an additional 966 shares in the last quarter. CWM LLC boosted its stake in PC Connection by 67.4% in the first quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $102,000 after acquiring an additional 659 shares in the last quarter. US Bancorp DE grew its holdings in PC Connection by 481.4% in the first quarter. US Bancorp DE now owns 2,901 shares of the company’s stock worth $181,000 after purchasing an additional 2,402 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of PC Connection during the first quarter worth $182,000. Institutional investors own 42.85% of the company’s stock.

PC Connection Trading Down 0.3%

PC Connection stock opened at $56.36 on Thursday. The firm has a market cap of $1.42 billion, a PE ratio of 17.45, a P/E/G ratio of 1.74 and a beta of 0.74. PC Connection, Inc. has a 12 month low of $55.50 and a 12 month high of $75.84. The stock’s 50 day simple moving average is $60.79 and its two-hundred day simple moving average is $63.64.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). PC Connection had a net margin of 2.91% and a return on equity of 9.64%. The company had revenue of $709.07 million during the quarter, compared to analyst estimates of $749.81 million. On average, equities research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Tuesday, November 11th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. PC Connection’s dividend payout ratio (DPR) is 18.58%.

Analyst Ratings Changes

A number of equities research analysts have commented on CNXN shares. Zacks Research cut PC Connection from a “hold” rating to a “strong sell” rating in a research note on Friday, October 31st. Wall Street Zen downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of PC Connection in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

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.