PC Connection (NASDAQ:CNXN) Shares Up 0.2% – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN)’s stock price shot up 0.2% during trading on Tuesday . The company traded as high as $74.06 and last traded at $73.69. 12,483 shares traded hands during trading, a decline of 84% from the average session volume of 79,965 shares. The stock had previously closed at $73.51.

Wall Street Analyst Weigh In

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday.

PC Connection Stock Performance

The stock has a 50 day moving average of $72.24 and a two-hundred day moving average of $69.28. The stock has a market cap of $1.92 billion, a PE ratio of 21.42, a PEG ratio of 2.17 and a beta of 0.63.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 56.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PC Connection

A number of institutional investors have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of PC Connection by 23.6% in the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after purchasing an additional 240,312 shares in the last quarter. American Century Companies Inc. increased its stake in PC Connection by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock valued at $16,884,000 after buying an additional 62,398 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in PC Connection in the 3rd quarter worth approximately $3,675,000. Allspring Global Investments Holdings LLC boosted its stake in shares of PC Connection by 34.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company’s stock valued at $10,552,000 after buying an additional 35,505 shares during the period. Finally, State Street Corp boosted its stake in shares of PC Connection by 7.4% during 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 during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.