PC Connection (NASDAQ:CNXN) Stock Price Down 1.4% – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN) shares traded down 1.4% during mid-day trading on Tuesday . The stock traded as low as $74.13 and last traded at $74.37. 7,871 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 79,561 shares. The stock had previously closed at $75.45.

Analyst Ratings Changes

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

PC Connection Stock Performance

The firm has a 50 day simple moving average of $72.14 and a 200 day simple moving average of $69.43. The firm has a market cap of $1.95 billion, a P/E ratio of 21.81, a P/E/G ratio of 2.14 and a beta of 0.66.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 56.50% of the company’s stock.

Institutional Trading of PC Connection

Several hedge funds and other institutional investors have recently made changes to their positions in CNXN. Victory Capital Management Inc. boosted its holdings in PC Connection by 27.5% in the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after acquiring an additional 10,314 shares in the last quarter. Vanguard Group Inc. raised its holdings in PC Connection by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock worth $68,625,000 after buying an additional 14,838 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of PC Connection in the third quarter worth approximately $591,000. Millennium Management LLC grew its holdings in shares of PC Connection by 108.0% during the second quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock valued at $4,158,000 after buying an additional 33,626 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in PC Connection in the 2nd quarter worth approximately $646,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.