The most recent filing with the SEC reveals that during the third quarter of 2018, the Louisiana State Employees Retirement System increased its stake in PC Connection, Inc. (NASDAQ: CNXN). This is the case according to the company’s disclosure (SEC). The institutional investor spent approximately 243 thousand dollars to acquire 5,400 shares of the company’s stock.
Several additional institutional investors have changed the percentage of the company’s stock they own due to recent events. During the second quarter, Legal & General Group Plc achieved a 2.1% increase in the proportion of PC Connection stock it owned. After acquiring 556 additional shares during the most recent fiscal quarter, Legal & General Group Plc now holds 27,585 shares of the company’s stock. Each share of the company’s stock has a current market value of $1,215,000. Goldman Sachs Group Inc. increased the amount of PC Connection stock owned by 11.1% during the second quarter. Goldman Sachs Group Inc. now has 211,969 shares of the company’s stock, which are currently valued at $9,338,000, after making an additional purchase of 21,093 shares during the period in question. This brings the total number of shares owned by the company to 211,969. Thrivent Financial for Lutherans increased the amount of PC Connection stock held by 21.0% during the second quarter of the fiscal year. Thrivent Financial for Lutherans now has a total of 10,839 shares of the company after purchasing an additional 1,878 shares of it during the period, and the value of those shares is $477,000. In the second quarter, Prudential Financial Inc. increased its holdings in PC Connection by 33.5%, bringing its total company to 100%. As a result of the purchase of an additional 15,430 shares during the period in question, Prudential Financial Inc. now holds a total of 61,498 shares of the company’s stock, which have an estimated market value of $2,709,000.
Last but not least, during the second quarter, AQR Capital Management LLC made a 31.0% increase in the amount of PC Connection stock it owned. After purchasing 4,865 shares, AQR Capital Management LLC now has 20,544 shares of the company’s stock. These shares have a combined value of $900,000, which the company paid in full. Hedge funds and other institutional investors own 42.51 percent of the company’s shares.
When trading started on Friday, the price of one share of CNXN was $48.90 per share. The moving average for the stock over the past 50 days is $50.57, and the moving average over the past 200 days is $48.51, respectively. Over the past year, the share price of PC Connection, Inc. has ranged from a historic low of $40.08 to a historic high of $56.68. The company currently has a price-to-earnings ratio of 13.89, and the stock’s beta value is 0.75. The current price of the stock on the market is equivalent to $1.29 billion.
The most recent quarterly earnings report for PC Connection, which is traded on the NASDAQ using the CNXN, was released on November 3. You can find the report here. The company reported earnings per share for the quarter at $0.88, which is $0.09 higher than the consensus estimate of $0.79 per share. You can find the report here. The company reported earnings per share for the quarter at $0.88, which is $0.09 higher than the consensus estimate of $0.79 per share. Even though market watchers anticipated the company would bring in $814.24 million in revenue during the quarter, it only managed to bring in $775.69 million for the period. PC Connection achieved a return on equity of 12.90%, and the net margin for the company was 2.91%. According to the forecasts provided by industry analysts, PC Connection, Inc.’s current financial year will end with the company generating earnings of $3.42 per share.
In addition, the business disclosed that it would be distributing a dividend on December 23 after having previously announced that it would be doing so. On Monday, December 5, stockholders who still had their shares in their possession as of that day were eligible to receive a $0.34 dividend payment. If one were to take these numbers at face value, they would indicate a dividend yield of 0.61%. This payment’s payout period started on Friday, December 2, which was also the day that signified the beginning of the payout period.
In a research study released on Tuesday by StockNews.com, the rating for PC Connection was changed from a “strong-buy” rating to a “buy” rating.
On November 21, it was reported that Patricia Gallup, the company’s chairman, sold 3,290 shares of the company’s stock. This information was found in other news reports regarding the company’s operations. It was determined that each share was sold for $54.07, which resulted in a total sale volume of 177,890.30 dollars. The average price of the shares was $54.07. As a result of the successful transaction completion, the company’s chairman now directly controls 7,128,512 shares of the company, which together have a value of $385,438,643.84. The transaction was discussed in a document distributed by the SEC and is currently available on the website of the SEC. In other news, on November 21, Patricia Gallup, the firm’s chairman, sold 3,290 shares. This comes as an update to a previously reported event. It was determined that each share was sold for $54.07, which resulted in a total sale volume of 177,890.30 dollars. The average price of the shares was $54.07. Because of the transaction, the chairman now owns 7,128,512 shares of company stock, which have a combined value of 385,438,643.84 dollars. Because of the filing with the SEC, information regarding the transaction is now available to the general public. On the website