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

PC Connection, Inc. (NASDAQ:CNXN)’s share price fell 0.7% during trading on Thursday . The company traded as low as $73.01 and last traded at $73.21. 3,342 shares traded hands during mid-day 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 note on Thursday, November 28th.

PC Connection Price Performance

The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.18 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 $69.75.

PC Connection Dividend Announcement

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

Insider Transactions at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now directly 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 DIFC Ltd bought a new position in shares of PC Connection during the third quarter valued at approximately $28,000. Signaturefd LLC boosted its position in PC Connection by 328.1% during the 3rd quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares during the period. Innealta Capital LLC bought a new position in PC Connection during the 2nd quarter worth $60,000. CWM LLC increased its position in PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after buying an additional 473 shares during the period. Finally, nVerses Capital LLC lifted its stake in PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds 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.