PC Connection (NASDAQ:CNXN) Trading 0.8% Higher – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN)’s share price rose 0.8% on Wednesday . The company traded as high as $74.99 and last traded at $74.42. Approximately 7,505 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 79,297 shares. The stock had previously closed at $73.81.

Wall Street Analysts Forecast Growth

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

PC Connection Trading Down 2.6 %

The business has a 50 day moving average of $72.08 and a 200-day moving average of $69.85. The firm has a market capitalization of $1.89 billion, a P/E ratio of 21.08, a PEG ratio of 2.14 and a beta of 0.66.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 56.90% of the stock is owned by company insiders.

Institutional Trading of PC Connection

A number of hedge funds have recently added to or reduced their stakes in CNXN. Point72 DIFC Ltd bought a new stake in shares of PC Connection during the third quarter worth about $28,000. Signaturefd LLC grew its holdings in PC Connection by 328.1% during the 3rd quarter. Signaturefd LLC now owns 488 shares of the company’s stock worth $37,000 after acquiring an additional 374 shares during the last quarter. CWM LLC increased its position in PC Connection by 125.5% in the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after acquiring an additional 473 shares during the period. Innealta Capital LLC bought a new position in shares of PC Connection during the second quarter valued at $60,000. Finally, nVerses Capital LLC lifted its holdings in shares of PC Connection by 1,000.0% during the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after purchasing an additional 1,000 shares during the period. 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.