PC Connection (NASDAQ:CNXN) Shares Down 0.7% – Time to Sell?

PC Connection, Inc. (NASDAQ:CNXN)’s share price traded down 0.7% during mid-day trading on Thursday . The stock traded as low as $73.01 and last traded at $73.21. 3,342 shares were traded during trading, a decline of 96% from the average session volume of 79,003 shares. The stock had previously closed at $73.73.

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.

PC Connection Trading Down 0.7 %

The company has a market cap of $1.92 billion, a PE ratio of 21.45, a P/E/G ratio of 2.17 and a beta of 0.66. The firm’s 50-day simple moving average is $72.05 and its two-hundred day simple moving average is $69.69.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.55%. PC Connection’s dividend payout ratio is presently 11.73%.

Insider Activity at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 56.90% of the stock is owned by company insiders.

Institutional Trading of PC Connection

Several institutional investors have recently added to or reduced their stakes in CNXN. Geode Capital Management LLC grew its holdings in shares of PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after purchasing an additional 23,358 shares in the last quarter. Barclays PLC grew its stake in shares of PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after acquiring an additional 23,084 shares in the last quarter. Jane Street Group LLC increased its position in shares of PC Connection by 195.9% during the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after acquiring an additional 15,916 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 34,248 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in PC Connection during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

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.