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

PC Connection, Inc. (NASDAQ:CNXN) saw a significant decrease in short interest in 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. Currently, 2.0% of the company’s shares are short sold. Based on an average trading volume of 75,600 shares, the days-to-cover ratio is currently 2.6 days.

PC Connection Stock Down 0.0 %

Shares of PC Connection stock opened at $65.68 on Wednesday. The company has a market cap of $1.73 billion, a PE ratio of 19.96, a P/E/G ratio of 1.98 and a beta of 0.67. The business has a 50 day moving average of $70.23 and a 200 day moving average of $71.20. PC Connection has a 52 week low of $57.47 and a 52 week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 earnings per share (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 period in the prior year, the company posted $0.90 earnings per share. On average, research analysts anticipate that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

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

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On PC Connection

Institutional investors have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter worth $28,000. Signaturefd LLC grew its stake in shares of PC Connection by 328.1% in the third 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. New Age Alpha Advisors LLC purchased a new stake in shares of PC Connection in the fourth quarter worth $40,000. CWM LLC grew its stake in shares of PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after acquiring an additional 473 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of PC Connection by 143.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company’s stock worth $77,000 after acquiring an additional 657 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

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.