PC Connection (NASDAQ:CNXN) COO Matthew David Zafirovski Buys 2,490 Shares of Company Stock

PC Connection, Inc. (NASDAQ:CNXN) COO Matthew David Zafirovski purchased 2,490 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average cost of $80.20 per share, for a total transaction of $199,698.00. Following the completion of the transaction, the chief operating officer directly owned 2,490 shares of the company’s stock, valued at $199,698. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

PC Connection Stock Performance

PC Connection stock opened at $82.10 on Wednesday. PC Connection, Inc. has a fifty-two week low of $54.97 and a fifty-two week high of $96.90. The firm’s 50-day simple moving average is $87.36 and its 200 day simple moving average is $73.21. The stock has a market cap of $2.07 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.80 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.04 by $0.20. PC Connection had a net margin of 3.25% and a return on equity of 11.38%. The firm had revenue of $874.31 million during the quarter, compared to analyst estimates of $773.74 million. As a group, analysts predict that PC Connection, Inc. will post 4.46 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 10th. PC Connection’s dividend payout ratio (DPR) is presently 19.75%.

Analysts Set New Price Targets

CNXN has been the topic of a number of recent analyst reports. Zacks Research upgraded PC Connection from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Weiss Ratings upgraded PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, PC Connection currently has an average rating of “Strong Buy”.

Institutional Trading of PC Connection

Hedge funds have recently added to or reduced their stakes in the stock. USA Financial Formulas purchased a new position in PC Connection in the third quarter valued at about $27,000. Hantz Financial Services Inc. increased its stake in shares of PC Connection by 40.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock worth $49,000 after purchasing an additional 156 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of PC Connection by 200.4% during the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock worth $41,000 after purchasing an additional 473 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of PC Connection during the 1st quarter worth approximately $44,000. Finally, Signaturefd LLC raised its holdings in shares of PC Connection by 505.4% in the 3rd quarter. Signaturefd LLC now owns 1,011 shares of the company’s stock worth $91,000 after purchasing an additional 844 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc. is an information technology solutions provider that helps businesses, government agencies, educational institutions and other organizations select, acquire and manage technology. The company sells computers, software, networking equipment, peripherals and other IT products, alongside services such as technology deployment, configuration, logistics and support. Operating through the Connection brand and specialized channels including GovConnection, the company serves customers across the United States.