PC Connection, Inc. (NASDAQ:CNXN) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its stake in PC Connection, Inc. (NASDAQ:CNXN) by 14.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,221 shares of the company’s stock after selling 2,447 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.05% of PC Connection worth $1,073,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Signaturefd LLC boosted its position in shares of PC Connection by 328.1% in the 3rd quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares during the period. Innealta Capital LLC acquired a new stake in shares of PC Connection in the second quarter valued at approximately $60,000. CWM LLC grew its position in shares of PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after acquiring an additional 473 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after acquiring an additional 1,000 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of PC Connection in the third quarter valued at about $243,000. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Stock Up 0.3 %

Shares of NASDAQ:CNXN opened at $73.50 on Monday. The firm’s 50-day simple moving average is $72.06 and its 200-day simple moving average is $69.58. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 2.19 and a beta of 0.66.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Analyst Ratings Changes

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

Insiders Place Their Bets

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 56.90% of the company’s stock.

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.