PC Connection (NASDAQ:CNXN) Stock Price Up 0.8% – Should You Buy?

PC Connection, Inc. (NASDAQ:CNXN)’s share price rose 0.8% during trading on Wednesday . The company traded as high as $74.99 and last traded at $74.42. Approximately 7,505 shares changed hands during trading, a decline of 91% from the average daily volume of 79,297 shares. The stock had previously closed at $73.81.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

PC Connection Stock Down 0.8 %

The stock has a 50 day moving average of $71.97 and a 200 day moving average of $69.91. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 2.14 and a beta of 0.66.

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Buying and Selling

In other news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 56.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PC Connection

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new stake in shares of PC Connection during the third quarter worth $28,000. Signaturefd LLC boosted its holdings in shares of 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 acquiring an additional 374 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of PC Connection during the 2nd quarter valued at $60,000. CWM LLC grew its position in PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after acquiring an additional 473 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors own 42.85% of the company’s stock.

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.