24,387 Shares in PC Connection, Inc. (CNXN) Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC purchased a new position in shares of PC Connection, Inc. (NASDAQ:CNXN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 24,387 shares of the company’s stock, valued at approximately $948,000. Sterling Capital Management LLC owned approximately 0.09% of PC Connection as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP boosted its stake in shares of PC Connection by 14.0% during the 2nd quarter. First Trust Advisors LP now owns 13,002 shares of the company’s stock worth $432,000 after acquiring an additional 1,596 shares in the last quarter. Chicago Equity Partners LLC bought a new stake in shares of PC Connection during the 2nd quarter worth about $444,000. Victory Capital Management Inc. boosted its stake in shares of PC Connection by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 14,892 shares of the company’s stock worth $494,000 after acquiring an additional 2,043 shares in the last quarter. Acadian Asset Management LLC boosted its stake in shares of PC Connection by 135.4% during the 2nd quarter. Acadian Asset Management LLC now owns 17,006 shares of the company’s stock worth $564,000 after acquiring an additional 9,781 shares in the last quarter. Finally, Aperio Group LLC boosted its stake in shares of PC Connection by 66.8% during the 2nd quarter. Aperio Group LLC now owns 19,450 shares of the company’s stock worth $646,000 after acquiring an additional 7,791 shares in the last quarter. Institutional investors own 41.20% of the company’s stock.

In related news, Director David Beffa-Negrini sold 6,523 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $37.14, for a total transaction of $242,264.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Barbara Duckett sold 2,000 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $41.46, for a total value of $82,920.00. Following the sale, the director now owns 12,877 shares of the company’s stock, valued at approximately $533,880.42. The disclosure for this sale can be found here. 57.10% of the stock is owned by corporate insiders.

Several analysts have recently issued reports on CNXN shares. BidaskClub downgraded PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. ValuEngine downgraded PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Roth Capital set a $40.00 price target on PC Connection and gave the stock a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research downgraded PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, October 3rd. Finally, Sidoti downgraded PC Connection from a “buy” rating to a “neutral” rating in a research note on Monday, July 16th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. PC Connection currently has an average rating of “Buy” and an average price target of $36.50.

Shares of NASDAQ:CNXN opened at $31.43 on Friday. PC Connection, Inc. has a twelve month low of $22.66 and a twelve month high of $43.05. The company has a market cap of $837.99 million, a P/E ratio of 17.08, a price-to-earnings-growth ratio of 1.76 and a beta of 1.25.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Thursday, November 1st. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.01. PC Connection had a return on equity of 11.54% and a net margin of 2.33%. The firm had revenue of $658.50 million during the quarter, compared to the consensus estimate of $673.10 million. During the same quarter in the prior year, the company earned $0.49 EPS. The firm’s revenue for the quarter was down 9.7% compared to the same quarter last year. On average, equities analysts forecast that PC Connection, Inc. will post 2.23 earnings per share for the current year.

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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.

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Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

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