PC Connection (NASDAQ:CNXN) Trading Down 1.3% – What’s Next?

Shares of PC Connection, Inc. (NASDAQ:CNXN) traded down 1.3% during mid-day trading on Tuesday . The stock traded as low as $72.27 and last traded at $73.12. 9,951 shares changed hands during trading, a decline of 87% from the average session volume of 79,131 shares. The stock had previously closed at $74.08.

Wall Street Analyst Weigh In

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

PC Connection Stock Performance

The stock has a 50-day moving average of $72.05 and a 200 day moving average of $69.69. The firm has a market capitalization of $1.94 billion, a P/E ratio of 21.62, a price-to-earnings-growth ratio of 2.17 and a beta of 0.66.

PC Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Buying and Selling

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PC Connection

Several hedge funds have recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new stake in PC Connection during the 3rd quarter worth about $28,000. Signaturefd LLC grew its position in shares of PC Connection by 328.1% during the 3rd quarter. Signaturefd LLC now owns 488 shares of the company’s stock worth $37,000 after buying an additional 374 shares during the period. Innealta Capital LLC bought a new stake in shares of PC Connection during the second quarter worth approximately $60,000. CWM LLC lifted its holdings in 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 buying an additional 473 shares during the period. Finally, nVerses Capital LLC boosted 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 acquiring an additional 1,000 shares during 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.