PC Connection (NASDAQ:CNXN) Trading 0.2% Higher – Here’s What Happened

Shares of PC Connection, Inc. (NASDAQ:CNXN) rose 0.2% during mid-day trading on Tuesday . The stock traded as high as $74.06 and last traded at $73.69. Approximately 12,483 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 79,965 shares. The stock had previously closed at $73.51.

Analyst Ratings Changes

Separately, StockNews.com lowered PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th.

PC Connection Stock Performance

The company has a 50 day moving average of $72.27 and a two-hundred day moving average of $69.19. The stock has a market cap of $1.94 billion, a PE ratio of 21.67, a price-to-earnings-growth ratio of 2.15 and a beta of 0.63.

PC Connection Announces Dividend

The company 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 dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 annualized dividend and a yield of 0.54%. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PC Connection

Several large investors have recently bought and sold shares of CNXN. Point72 DIFC Ltd purchased a new stake in shares of PC Connection in the third quarter valued at approximately $28,000. Signaturefd LLC grew its position in shares of PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of PC Connection in the second quarter valued at 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 acquiring an additional 473 shares during the last quarter. Finally, nVerses Capital LLC lifted its holdings 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. 42.85% of the stock is currently 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.