PC Connection, Inc. to Issue Quarterly Dividend of $0.10 (NASDAQ:CNXN)

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 12th will be paid a dividend of 0.10 per share on Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 12th.

PC Connection has a dividend payout ratio of 10.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $3.90 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.3%.

PC Connection Trading Down 5.5 %

Shares of NASDAQ CNXN opened at $63.65 on Friday. PC Connection has a 12-month low of $51.63 and a 12-month high of $77.19. The company has a market cap of $1.67 billion, a PE ratio of 18.67, a P/E/G ratio of 1.92 and a beta of 0.62. The stock has a 50 day simple moving average of $72.44 and a 200-day simple moving average of $68.15.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). PC Connection had a return on equity of 10.42% and a net margin of 3.23%. The business had revenue of $724.72 million for the quarter, compared to analyst estimates of $726.98 million. Sell-side analysts forecast that PC Connection will post 3.52 earnings per share for the current fiscal year.

Insider Activity at PC Connection

In related news, CEO Timothy J. Mcgrath sold 15,377 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total transaction of $1,079,157.86. Following the completion of the sale, the chief executive officer now directly owns 277,691 shares in the company, valued at approximately $19,488,354.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 56.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 29th.

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.