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

PC Connection, Inc. (NASDAQ:CNXN)’s stock price was up 1.9% during trading on Monday . The stock traded as high as $73.86 and last traded at $73.67. Approximately 6,507 shares changed 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 Ratings Changes

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

PC Connection Price Performance

The firm has a market cap of $1.85 billion, a PE ratio of 20.67, a PEG ratio of 2.14 and a beta of 0.66. The business has a 50-day moving average price of $72.09 and a two-hundred day moving average price of $69.90.

PC Connection Announces Dividend

The firm also recently announced 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 was Tuesday, November 12th. PC Connection’s payout ratio is currently 11.73%.

Insider Buying and Selling at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

Several hedge funds have recently modified their holdings of the company. 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 valued at $2,798,000 after buying an additional 140 shares during the period. Amalgamated Bank raised its holdings in PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after acquiring an additional 154 shares during the last quarter. New York State Teachers Retirement System lifted its stake in shares of 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 purchasing an additional 216 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after purchasing an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter valued at $28,000. 42.85% of the stock is 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.