PC Connection (NASDAQ:CNXN) Upgraded at StockNews.com

StockNews.com upgraded shares of PC Connection (NASDAQ:CNXN) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

PC Connection Stock Down 0.6 %

Shares of CNXN stock opened at $72.58 on Thursday. PC Connection has a 52-week low of $57.47 and a 52-week high of $77.19. The stock’s 50-day moving average price is $72.12 and its 200 day moving average price is $69.37. The stock has a market capitalization of $1.91 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.14 and a beta of 0.63.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were given a $0.10 dividend. The ex-dividend date was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. PC Connection’s dividend payout ratio (DPR) is 11.73%.

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred 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 sale, the director now 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.90% of the stock is owned by insiders.

Institutional Trading of PC Connection

Several hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in PC Connection in the third quarter worth $28,000. Signaturefd LLC increased its holdings in shares of PC Connection by 328.1% in the 3rd 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. Innealta Capital LLC acquired a new stake in shares of PC Connection in the second quarter valued at about $60,000. CWM LLC boosted its holdings in PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after buying an additional 473 shares in the last quarter. Finally, nVerses Capital LLC grew its position in 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 buying an additional 1,000 shares during the period. 42.85% of the stock is owned by institutional investors and hedge funds.

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.