PC Connection (NASDAQ:CNXN) Shares Up 0.1% – Should You Buy?

Shares of PC Connection, Inc. (NASDAQ:CNXN) shot up 0.1% during trading on Friday . The stock traded as high as $73.73 and last traded at $73.15. 5,466 shares changed hands during mid-day trading, a decline of 93% from the average session volume of 79,766 shares. The stock had previously closed at $73.05.

Analyst Ratings Changes

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

PC Connection Stock Performance

The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 2.16 and a beta of 0.63. The business’s 50-day moving average is $72.12 and its 200-day moving average is $69.35.

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a $0.10 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. PC Connection’s dividend payout ratio is 11.73%.

Insiders Place Their Bets

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

Hedge Funds Weigh In On PC Connection

A number of hedge funds and other institutional investors have recently bought and sold shares of CNXN. Point72 DIFC Ltd acquired a new stake in shares of PC Connection in the third quarter valued at approximately $28,000. Signaturefd LLC lifted its holdings in PC Connection by 328.1% during 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 last quarter. CWM LLC boosted its position in PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after purchasing an additional 473 shares during the period. Innealta Capital LLC acquired a new position in shares of PC Connection in the second quarter valued at $60,000. Finally, nVerses Capital LLC raised its position in shares of PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC 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.