Louisiana State Employees Retirement System Boosts Stock Position in PC Connection, Inc. (NASDAQ:CNXN)

Louisiana State Employees Retirement System grew its position in PC Connection, Inc. (NASDAQ:CNXN) by 5.3% in the third quarter, Holdings Channel.com reports. The fund owned 6,000 shares of the company’s stock after buying an additional 300 shares during the period. Louisiana State Employees Retirement System’s holdings in PC Connection were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CNXN. BNP Paribas Financial Markets increased its holdings in shares of PC Connection by 23.9% in the 1st quarter. BNP Paribas Financial Markets now owns 8,767 shares of the company’s stock valued at $578,000 after acquiring an additional 1,692 shares during the last quarter. SG Americas Securities LLC bought a new position in PC Connection during the 1st quarter worth $1,701,000. Illinois Municipal Retirement Fund grew its stake in PC Connection by 3.4% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,491 shares of the company’s stock worth $428,000 after buying an additional 211 shares during the last quarter. Vanguard Group Inc. grew its stake in PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock worth $68,625,000 after buying an additional 14,838 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in PC Connection during the 1st quarter worth $281,000. 42.85% of the stock is currently owned by institutional investors.

PC Connection Stock Performance

Shares of CNXN stock opened at $68.11 on Wednesday. PC Connection, Inc. has a 1 year low of $57.47 and a 1 year high of $77.19. The stock has a fifty day moving average of $72.04 and a two-hundred day moving average of $68.29. The firm has a market capitalization of $1.79 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.92 and a beta of 0.63.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 29th.

About PC Connection

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.