BlackRock Inc. Ups Stake in PC Connection, Inc. (CNXN)

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Fintel reports that BlackRock Inc.
has filed a 13G/A form
with the SEC disclosing ownership of
2,510,632
shares of PC Connection, Inc. (CNXN).

This represents 9.6% of the company.

In their previous filing dated February 1, 2022
they reported 2,393,075 shares and 9.10% of the company,
an increase in shares of 4.91%
and
an increase in total ownership of 0.50%
(calculated as current – previous percent ownership).

Analyst Price Forecast Suggests 31.75% Upside

As of January 21, 2023,
the average one-year price target for PC Connection is $65.28.
The forecasts range from a low of $64.64 to a high of $67.20.
The average price target represents an increase of 31.75% from its latest reported closing price of $49.55.

The projected annual revenue for PC Connection is $3,253MM, an increase of 1.89%.
The projected annual EPS is $3.66, an increase of 3.48%.

Fund Sentiment

There are 389 funds or institutions reporting positions in PC Connection, Inc..
This is an increase
of
15
owner(s) or 4.01%.

Average portfolio weight of all funds dedicated to PC Connection, Inc. is 0.1045%,
an increase
of 17.8596%.

Total shares owned by institutions increased
in the last three months by 1.38% to 12,771,600 shares.

What are large shareholders doing?

Mawer Investment Management Ltd.
holds 1,986,948 shares

representing 7.56% ownership of the company.

In it’s prior filing, the firm reported owning 1,978,534 shares, representing
an increase
of 0.42%.

The firm

increased

its portfolio allocation in CNXN by 9.72% over the last quarter.

Northern Trust Corp
holds 379,729 shares

representing 1.44% ownership of the company.

In it’s prior filing, the firm reported owning 377,169 shares, representing
an increase
of 0.67%.

The firm

decreased

its portfolio allocation in CNXN by 63.55% over the last quarter.

Invesco Ltd.
holds 310,964 shares

representing 1.18% ownership of the company.

In it’s prior filing, the firm reported owning 306,966 shares, representing
an increase
of 1.29%.

The firm

increased

its portfolio allocation in CNXN by 10.16% over the last quarter.

Geode Capital Management, Llc
holds 223,117 shares

representing 0.85% ownership of the company.

In it’s prior filing, the firm reported owning 219,265 shares, representing
an increase
of 1.73%.

The firm

increased

its portfolio allocation in CNXN by 7.86% over the last quarter.

Charles Schwab Investment Management Inc
holds 217,692 shares

representing 0.83% ownership of the company.

In it’s prior filing, the firm reported owning 214,629 shares, representing
an increase
of 1.41%.

The firm

decreased

its portfolio allocation in CNXN by 7.41% over the last quarter.

PC Connection Declares $$0.34 Dividend

PC Connection said on November 21, 2022 that its board of directors declared a regular
quarterly dividend
of $0.34 per share ( $ annualized).
Shareholders of record as of December 2, 2022
received the payment on December 23, 2022.
Previously, the company paid $1.00 per share.

At the most recent share price of $49.55 / share,
the stock’s dividend yield is %.

Additionally, the company’s dividend payout ratio is 0.10,
indicating it is retaining a low percentage
of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.06%,
demonstrating that it consistently increased its dividends over time.

PC Connection, Inc. Background Information
(This description is provided by the company.)

PC Connection, Inc. and its subsidiaries, dba Connection, (www.connection.com; NASDAQ: CNXN) is a Fortune 1000 company headquartered in Merrimack, NH. With offices throughout the United States, Connection delivers custom-configured computer systems overnight from its ISO 9001:2015 certified technical configuration lab at its distribution center in Wilmington, OH. In addition, the Company has over 2,500 technical certifications to ensure that it can solve the most complex issues of its customers. Connection also services international customers through its GlobalServe subsidiary, a global IT procurement and service management company.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



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