PC Connection (NASDAQ:CNXN) Shares Up 0.4% – Here’s Why

Shares of PC Connection, Inc. (NASDAQ:CNXN) rose 0.4% on Wednesday . The company traded as high as $74.75 and last traded at $74.05. Approximately 6,577 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 79,089 shares. The stock had previously closed at $73.79.

Analyst Upgrades and Downgrades

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

PC Connection Stock Down 1.8 %

The firm has a market capitalization of $1.90 billion, a PE ratio of 21.18, a price-to-earnings-growth ratio of 2.18 and a beta of 0.66. The business’s 50-day moving average price is $72.07 and its 200-day moving average price is $69.72.

PC Connection Announces Dividend

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

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. This 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. Corporate insiders own 56.90% of the company’s stock.

Institutional Trading of PC Connection

A number of institutional investors have recently made changes to their positions in CNXN. Pacer Advisors Inc. lifted its position in PC Connection by 23.6% during the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after acquiring an additional 240,312 shares during the last quarter. State Street Corp lifted its stake in PC Connection by 7.4% during the third quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Geode Capital Management LLC grew its position in PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after acquiring an additional 23,358 shares during the last quarter. American Century Companies Inc. increased its position in PC Connection by 31.1% during the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after purchasing an additional 62,398 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PC Connection by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock valued at $18,467,000 after buying an additional 10,925 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.