PC Connection (NASDAQ:CNXN) Sees Large Volume Increase

PC Connection, Inc. (NASDAQ:CNXN) shares saw an uptick in trading volume on Tuesday . 47,445 shares traded hands during mid-day trading, a decline of 36% from the previous session’s volume of 74,019 shares.The stock last traded at $68.21 and had previously closed at $68.02.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.

PC Connection Price Performance

The stock has a 50-day moving average price of $65.54 and a 200 day moving average price of $65.30. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.05 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.14). The company had revenue of $632.03 million during the quarter, compared to analyst estimates of $694.19 million. PC Connection had a net margin of 2.98% and a return on equity of 10.10%. During the same quarter last year, the firm earned $0.56 EPS. As a group, equities research analysts predict that PC Connection, Inc. will post 3.35 earnings per share for the current year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Tuesday, May 14th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Monday, May 13th. PC Connection’s dividend payout ratio (DPR) is presently 12.82%.

Insider Activity at PC Connection

In other PC Connection news, Director Barbara Duckett sold 1,000 shares of PC Connection stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $68.08, for a total value of $68,080.00. Following the sale, the director now owns 13,877 shares of the company’s stock, valued at approximately $944,746.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 56.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PC Connection

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in PC Connection in the 1st quarter valued at approximately $1,701,000. Charles Schwab Investment Management Inc. boosted its stake in shares of PC Connection by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 232,936 shares of the company’s stock worth $15,656,000 after acquiring an additional 3,812 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of PC Connection by 23.9% during the 1st quarter. BNP Paribas Financial Markets now owns 8,767 shares of the company’s stock worth $578,000 after acquiring an additional 1,692 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of PC Connection by 10.5% during the 1st quarter. Principal Financial Group Inc. now owns 65,079 shares of the company’s stock worth $4,291,000 after acquiring an additional 6,185 shares in the last quarter. Finally, Arizona State Retirement System purchased a new stake in shares of PC Connection during the 4th quarter worth approximately $222,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.