Northern Trust Corp Has $24.47 Million Stake in PC Connection, Inc. (CNXN)

Northern Trust Corp grew its position in PC Connection, Inc. (NASDAQ:CNXN) by 0.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 736,895 shares of the company’s stock after purchasing an additional 3,034 shares during the quarter. Northern Trust Corp owned approximately 2.76% of PC Connection worth $24,465,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of PC Connection by 2.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 73,444 shares of the company’s stock valued at $2,439,000 after purchasing an additional 1,837 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of PC Connection by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 82,800 shares of the company’s stock valued at $2,749,000 after purchasing an additional 1,783 shares during the last quarter. Aperio Group LLC boosted its stake in shares of PC Connection by 66.8% in the 2nd quarter. Aperio Group LLC now owns 19,450 shares of the company’s stock valued at $646,000 after purchasing an additional 7,791 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of PC Connection by 135.4% in the 2nd quarter. Acadian Asset Management LLC now owns 17,006 shares of the company’s stock valued at $564,000 after purchasing an additional 9,781 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in shares of PC Connection by 66.8% in the 2nd quarter. United Services Automobile Association now owns 58,200 shares of the company’s stock valued at $1,932,000 after purchasing an additional 23,300 shares during the last quarter. 40.63% of the stock is currently owned by institutional investors.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of PC Connection from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine lowered shares of PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. BidaskClub raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 17th. Sidoti raised shares of PC Connection from a “neutral” rating to a “buy” rating in a research note on Tuesday. Finally, Roth Capital set a $40.00 price objective on shares of PC Connection and gave the company a “buy” rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $36.50.



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

Shares of NASDAQ CNXN opened at $30.87 on Friday. The firm has a market cap of $828.58 million, a P/E ratio of 16.78, a P/E/G ratio of 1.59 and a beta of 1.35. PC Connection, Inc. has a 12-month low of $22.66 and a 12-month high of $43.05.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Thursday, August 2nd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.05. The business had revenue of $706.57 million for the quarter, compared to analyst estimates of $696.68 million. PC Connection had a net margin of 2.24% and a return on equity of 11.73%. PC Connection’s revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 earnings per share. On average, analysts predict that PC Connection, Inc. will post 2.44 EPS for the current year.

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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