PC Connection, Inc. (NASDAQ:CNXN) Declares Quarterly Dividend of $0.15

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Thursday, February 6th,Wall Street Journal reports. Shareholders of record on Tuesday, February 25th will be given a dividend of 0.15 per share on Friday, March 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Tuesday, February 25th. This is an increase from PC Connection’s previous quarterly dividend of $0.10.

PC Connection has a payout ratio of 9.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $3.59 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 11.1%.

PC Connection Stock Down 10.8 %

NASDAQ:CNXN opened at $63.97 on Friday. PC Connection has a 12-month low of $57.47 and a 12-month high of $77.19. The stock’s fifty day simple moving average is $71.49 and its 200-day simple moving average is $71.37. The firm has a market capitalization of $1.68 billion, a P/E ratio of 18.76, a P/E/G ratio of 2.07 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 10.30% and a net margin of 3.23%. During the same period in the prior year, the firm posted $0.90 EPS. As a group, equities research analysts expect that PC Connection will post 3.37 earnings per share for the current year.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the business’s 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 sale, the director now owns 71,750 shares of the company’s stock, valued at $5,022,500. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 56.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.