PC Connection (NASDAQ:CNXN) Trading Down 0.3% – Time to Sell?

Shares of PC Connection, Inc. (NASDAQ:CNXN) traded down 0.3% on Tuesday . The stock traded as low as $73.88 and last traded at $74.36. 15,259 shares changed hands during trading, a decline of 81% from the average session volume of 79,271 shares. The stock had previously closed at $74.55.

Analyst Upgrades and Downgrades

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

PC Connection Price Performance

The firm has a market cap of $1.96 billion, a P/E ratio of 21.81, a PEG ratio of 2.14 and a beta of 0.66. The company’s 50-day moving average is $72.08 and its two-hundred day moving average is $69.85.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s payout ratio is presently 11.73%.

Insider Buying and Selling

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The stock was 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 directly owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 56.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On PC Connection

Several large investors have recently added to or reduced their stakes in the business. Pacer Advisors Inc. boosted its stake 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 in the last quarter. State Street Corp increased its position in PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares in the last quarter. Geode Capital Management LLC raised its stake in PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares during the period. American Century Companies Inc. grew its stake in PC Connection by 31.1% in the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock valued at $16,884,000 after acquiring an additional 62,398 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PC Connection by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock valued at $18,467,000 after acquiring an additional 10,925 shares in the last quarter. Institutional investors and hedge funds 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.