Wells Fargo & Company MN boosted its holdings in shares of Connection Inc. (NASDAQ:CNXN) by 31.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,945 shares of the company’s stock after acquiring an additional 15,603 shares during the quarter. Wells Fargo & Company MN’s holdings in Connection were worth $1,702,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of CNXN. California Public Employees Retirement System purchased a new position in Connection during the 3rd quarter valued at $275,000. JPMorgan Chase & Co. boosted its holdings in Connection by 141.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 10,501 shares of the company’s stock valued at $291,000 after acquiring an additional 6,157 shares during the period. Aperio Group LLC boosted its holdings in Connection by 29.6% during the 4th quarter. Aperio Group LLC now owns 12,725 shares of the company’s stock valued at $334,000 after acquiring an additional 2,909 shares during the period. GSA Capital Partners LLP boosted its holdings in Connection by 20.6% during the 3rd quarter. GSA Capital Partners LLP now owns 25,914 shares of the company’s stock valued at $731,000 after acquiring an additional 4,418 shares during the period. Finally, First National Bank of Omaha boosted its holdings in Connection by 18.0% during the 4th quarter. First National Bank of Omaha now owns 35,075 shares of the company’s stock valued at $919,000 after acquiring an additional 5,350 shares during the period. Institutional investors own 41.23% of the company’s stock.
Several equities research analysts have weighed in on CNXN shares. BidaskClub upgraded Connection from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research upgraded Connection from a “strong sell” rating to a “hold” rating in a report on Wednesday, December 27th. Finally, ValuEngine cut Connection from a “buy” rating to a “hold” rating in a report on Sunday, December 31st.
Shares of CNXN stock opened at $27.06 on Wednesday. Connection Inc. has a twelve month low of $22.66 and a twelve month high of $29.83. The firm has a market capitalization of $719.83, a price-to-earnings ratio of 14.66, a PEG ratio of 1.48 and a beta of 1.42.
Connection (NASDAQ:CNXN) last issued its earnings results on Thursday, February 15th. The company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. Connection had a return on equity of 10.65% and a net margin of 1.88%. The business had revenue of $762.27 million during the quarter, compared to analysts’ expectations of $757.40 million. During the same period in the prior year, the business earned $0.53 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. sell-side analysts predict that Connection Inc. will post 2.28 earnings per share for the current fiscal year.
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Connection Company 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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