PC Connection (NASDAQ:CNXN) Stock Price Up 3.1% – Still a Buy?

PC Connection, Inc. (NASDAQ:CNXN)’s share price rose 3.1% during mid-day trading on Tuesday . The company traded as high as $61.64 and last traded at $62.00. Approximately 9,323 shares traded hands during trading, a decline of 89% from the average daily volume of 81,197 shares. The stock had previously closed at $60.13.

Analyst Ratings Changes

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

PC Connection Stock Performance

The business has a fifty day moving average of $67.24 and a 200-day moving average of $70.30. The company has a market capitalization of $1.61 billion, a P/E ratio of 18.63, a PEG ratio of 1.96 and a beta of 0.61.

PC Connection (NASDAQ:CNXN) last issued its earnings results 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 firm earned $0.90 earnings per share. Sell-side analysts anticipate that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued 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 0.98%. The ex-dividend date of this dividend was Tuesday, February 25th. PC Connection’s dividend payout ratio (DPR) is currently 18.24%.

Institutional Investors Weigh In On PC Connection

Institutional investors and hedge funds have recently bought and sold shares of the stock. Victory Capital Management Inc. raised its position in PC Connection by 27.5% in the 3rd quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock valued at $3,603,000 after buying an additional 10,314 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in PC Connection in the 3rd quarter valued at $591,000. Geode Capital Management LLC raised its position in PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after buying an additional 23,358 shares during the last quarter. Jane Street Group LLC raised its position in PC Connection by 195.9% in the 3rd quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after buying an additional 15,916 shares during the last quarter. Finally, State Street Corp raised its position in PC Connection by 7.4% in 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 during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

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.