PC Connection, Inc. (NASDAQ:CNXN) Short Interest Update

PC Connection, Inc. (NASDAQ:CNXN) saw a large drop in short interest in February. As of February 13th, there was short interest totaling 320,005 shares, a drop of 15.4% from the January 29th total of 378,137 shares. Approximately 2.8% of the shares of the company are short sold. Based on an average trading volume of 136,014 shares, the days-to-cover ratio is currently 2.4 days. Based on an average trading volume of 136,014 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.8% of the shares of the company are short sold.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNXN. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

PC Connection Trading Up 0.6%

CNXN traded up $0.34 during trading on Wednesday, reaching $61.34. 9,958 shares of the company were exchanged, compared to its average volume of 85,498. PC Connection has a 52 week low of $54.97 and a 52 week high of $71.17. The firm has a 50 day moving average of $60.06 and a 200 day moving average of $60.62. The stock has a market cap of $1.55 billion, a P/E ratio of 18.76, a PEG ratio of 1.61 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $702.94 million for the quarter, compared to analysts’ expectations of $735.49 million. PC Connection had a return on equity of 9.87% and a net margin of 2.91%. As a group, analysts forecast that PC Connection will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a $0.20 dividend. This is a positive change from PC Connection’s previous quarterly dividend of $0.15. The ex-dividend date is Tuesday, February 17th. This represents a $0.80 annualized dividend and a yield of 1.3%. PC Connection’s payout ratio is currently 24.46%.

Institutional Investors Weigh In On PC Connection

Hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in shares of PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the period. PNC Financial Services Group Inc. raised its stake in PC Connection by 196.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after acquiring an additional 417 shares in the last quarter. Quarry LP acquired a new position in PC Connection during the 3rd quarter worth $75,000. Russell Investments Group Ltd. increased its holdings in shares of PC Connection by 194.0% during the third quarter. Russell Investments Group Ltd. now owns 1,411 shares of the company’s stock valued at $87,000 after purchasing an additional 931 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in shares of PC Connection by 535.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $105,000 after purchasing an additional 1,349 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.