PC Connection (NASDAQ:CNXN) Cut to Hold at StockNews.com

StockNews.com lowered shares of PC Connection (NASDAQ:CNXN) from a buy rating to a hold rating in a report released on Wednesday.

PC Connection Trading Up 0.7 %

Shares of NASDAQ CNXN opened at $70.38 on Wednesday. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 20.64, a PEG ratio of 2.07 and a beta of 0.63. PC Connection has a one year low of $57.47 and a one year high of $77.19. The business has a fifty day simple moving average of $72.28 and a 200 day simple moving average of $68.95.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Institutional Trading of PC Connection

A number of large investors have recently bought and sold shares of CNXN. Pacer Advisors Inc. boosted its stake in shares of PC Connection by 23.6% in the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock valued at $80,781,000 after purchasing an additional 240,312 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after purchasing an additional 14,838 shares during the last quarter. State Street Corp boosted its position in PC Connection by 7.4% in the third 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 grew its stake in PC Connection by 7.2% during the third 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 last quarter. Finally, American Century Companies Inc. increased its holdings in shares of PC Connection by 31.1% during the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after buying an additional 62,398 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.

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.