PC Connection (NASDAQ:CNXN) Trading Up 1.9% – Time to Buy?

PC Connection, Inc. (NASDAQ:CNXN) was up 1.9% during trading on Monday . The company traded as high as $73.86 and last traded at $73.67. Approximately 6,507 shares traded hands during trading, a decline of 92% from the average daily volume of 78,978 shares. The stock had previously closed at $72.30.

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 Stock Performance

The stock’s fifty day simple moving average is $72.09 and its two-hundred day simple moving average is $69.90. The company has a market cap of $1.85 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth 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. Shareholders of record on Tuesday, November 12th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insiders Place Their Bets

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 56.90% of the stock is currently owned by insiders.

Institutional Trading of PC Connection

Several large investors have recently added to or reduced their stakes in CNXN. Martingale Asset Management L P lifted its stake in shares of PC Connection by 0.4% during the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after purchasing an additional 140 shares in the last quarter. Amalgamated Bank raised its holdings in shares of PC Connection by 4.6% during the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after buying an additional 154 shares during the period. New York State Teachers Retirement System lifted its position in PC Connection by 4.9% during the 3rd quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock worth $348,000 after acquiring an additional 216 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in PC Connection by 5.3% in the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after acquiring an additional 300 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in PC Connection in the third quarter valued at approximately $28,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.