PC Connection, Inc. (NASDAQ:CNXN) Short Interest Update

PC Connection, Inc. (NASDAQ:CNXN) was the recipient of a large decrease in short interest in the month of January. As of January 31st, there was short interest totalling 200,000 shares, a decrease of 8.0% from the January 15th total of 217,400 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average daily volume of 75,600 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

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

PC Connection Stock Down 0.0 %

Shares of NASDAQ:CNXN opened at $65.68 on Wednesday. The firm’s 50 day moving average price is $70.23 and its 200-day moving average price is $71.20. PC Connection has a twelve month low of $57.47 and a twelve month high of $77.19. The stock has a market capitalization of $1.73 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.98 and a beta of 0.67.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter in the prior year, the firm posted $0.90 EPS. Analysts expect that PC Connection will post 3.33 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.15 per share. This is a boost from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. PC Connection’s dividend payout ratio (DPR) is presently 12.16%.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNXN. Point72 DIFC Ltd purchased a new stake in PC Connection during the 3rd quarter valued at approximately $28,000. Signaturefd LLC grew its holdings in shares of PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of PC Connection in the fourth quarter valued at $40,000. CWM LLC grew its holdings in shares of PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after purchasing an additional 473 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of 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 purchasing an additional 1,000 shares in the last quarter. Institutional investors 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.