Brandywine Global Investment Management LLC reduced its holdings in shares of PC Connection, Inc. (NASDAQ:CNXN) by 9.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,024 shares of the company’s stock after selling 4,996 shares during the quarter. Brandywine Global Investment Management LLC owned 0.17% of PC Connection worth $1,207,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Royce & Associates LP lifted its stake in PC Connection by 9.1% during the fourth quarter. Royce & Associates LP now owns 1,720,218 shares of the company’s stock worth $45,087,000 after purchasing an additional 143,928 shares during the last quarter. Fenimore Asset Management Inc. lifted its stake in PC Connection by 0.7% during the fourth quarter. Fenimore Asset Management Inc. now owns 321,345 shares of the company’s stock worth $8,422,000 after purchasing an additional 2,370 shares during the last quarter. State Street Corp lifted its stake in PC Connection by 8.5% during the second quarter. State Street Corp now owns 255,636 shares of the company’s stock worth $6,915,000 after purchasing an additional 20,012 shares during the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in PC Connection by 23.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 203,121 shares of the company’s stock worth $5,324,000 after purchasing an additional 38,520 shares during the last quarter. Finally, Nordea Investment Management AB lifted its stake in PC Connection by 2.8% during the third quarter. Nordea Investment Management AB now owns 137,400 shares of the company’s stock worth $3,873,000 after purchasing an additional 3,700 shares during the last quarter. Institutional investors own 41.18% of the company’s stock.
In other PC Connection news, CEO Timothy J. Mcgrath sold 9,700 shares of the stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.85, for a total value of $260,445.00. Following the sale, the chief executive officer now directly owns 207,207 shares of the company’s stock, valued at $5,563,507.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 57.30% of the stock is owned by company insiders.
PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. PC Connection had a return on equity of 10.65% and a net margin of 1.88%. The firm had revenue of $762.27 million for the quarter, compared to analysts’ expectations of $757.40 million. During the same period last year, the business posted $0.53 earnings per share. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. sell-side analysts forecast that PC Connection, Inc. will post 2.28 EPS for the current fiscal year.
CNXN has been the topic of several research analyst reports. Zacks Investment Research upgraded PC Connection from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research note on Wednesday, February 21st. ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Finally, BidaskClub upgraded PC Connection from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th.
About PC Connection
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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