PC Connection (NASDAQ:CNXN) Shares Up 0.4% – What’s Next?

Shares of PC Connection, Inc. (NASDAQ:CNXNGet Free Report) traded up 0.4% on Wednesday . The company traded as high as $74.75 and last traded at $74.05. 6,577 shares traded hands during trading, a decline of 92% from the average session volume of 79,089 shares. The stock had previously closed at $73.79.

Analysts Set New Price Targets

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

View Our Latest Research Report on CNXN

PC Connection Stock Down 0.1 %

The company has a market capitalization of $1.94 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.17 and a beta of 0.66. The firm’s 50-day moving average price is $72.04 and its 200 day moving average price is $69.66.

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were issued a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.54%. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Insider Buying and Selling at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the business’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 of the company’s stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 56.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNXN. Geode Capital Management LLC grew its stake in shares of PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after acquiring an additional 23,358 shares during the period. Barclays PLC boosted its position in PC Connection by 178.7% during the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after purchasing an additional 23,084 shares during the period. Jane Street Group LLC increased its stake in shares of PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after purchasing an additional 15,916 shares in the last quarter. State Street Corp lifted its stake in shares of PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares in the last quarter. Finally, Point72 DIFC Ltd bought a new position in PC Connection in the 3rd quarter worth approximately $28,000. 42.85% of the stock is owned by institutional investors.

About PC Connection

(Get Free Report)

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.

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