PC Connection (NASDAQ:CNXN) Trading 1.6% Higher – Still a Buy?

PC Connection, Inc. (NASDAQ:CNXN)’s stock price traded up 1.6% during trading on Monday . The company traded as high as $74.21 and last traded at $73.91. 8,925 shares traded hands during trading, a decline of 89% from the average session volume of 79,910 shares. The stock had previously closed at $72.74.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

PC Connection Stock Performance

The stock has a market cap of $1.92 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.17 and a beta of 0.63. The firm has a fifty day moving average price of $72.26 and a 200 day moving average price of $69.25.

PC Connection Dividend Announcement

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

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the business’s 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 sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 56.50% of the company’s stock.

Institutional Investors Weigh In On PC Connection

Institutional investors and hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in PC Connection by 27.5% in the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock valued at $3,603,000 after purchasing an additional 10,314 shares during the last quarter. Vanguard Group Inc. grew its holdings in PC Connection by 1.4% during the first quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock worth $68,625,000 after acquiring an additional 14,838 shares during the period. GSA Capital Partners LLP purchased a new position in PC Connection during the third quarter valued at approximately $591,000. Millennium Management LLC lifted its holdings in PC Connection by 108.0% in the second quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock valued at $4,158,000 after acquiring an additional 33,626 shares during the period. Finally, Magnetar Financial LLC purchased a new stake in PC Connection in the 2nd quarter worth approximately $646,000. 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.