PC Connection (NASDAQ:CNXN) Shares Down 1.2% – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN) dropped 1.2% during mid-day trading on Wednesday . The stock traded as low as $72.85 and last traded at $72.85. Approximately 5,940 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 79,879 shares. The stock had previously closed at $73.75.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

PC Connection Trading Down 1.2 %

The company’s 50-day simple moving average is $72.26 and its 200 day simple moving average is $69.25. The stock has a market cap of $1.92 billion, a P/E ratio of 21.36, a PEG ratio of 2.17 and a beta of 0.63.

PC Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be paid a $0.10 dividend. The ex-dividend date of this dividend is 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 presently 11.73%.

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 56.50% of the company’s stock.

Institutional Trading of PC Connection

A number of large investors have recently bought and sold shares of the company. Pacer Advisors Inc. lifted its position in shares of PC Connection by 23.6% during the 2nd quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock valued at $80,781,000 after buying an additional 240,312 shares during the last quarter. Vanguard Group Inc. raised its stake in PC Connection by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after acquiring an additional 14,838 shares during the period. State Street Corp boosted its position in PC Connection by 7.4% during the third quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares during the period. Geode Capital Management LLC boosted its position in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of PC Connection by 31.1% in the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after purchasing an additional 62,398 shares in 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.