PC Connection (NASDAQ:CNXN) Trading Up 0.1% – Here’s Why

PC Connection, Inc. (NASDAQ:CNXN) shares were up 0.1% on Friday . The company traded as high as $73.73 and last traded at $73.15. Approximately 5,466 shares changed hands during trading, a decline of 93% from the average daily volume of 79,766 shares. The stock had previously closed at $73.05.

Analyst Upgrades and Downgrades

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

PC Connection Trading Down 0.6 %

The company’s 50 day moving average price is $72.18 and its two-hundred day moving average price is $69.30. The firm has a market cap of $1.91 billion, a PE ratio of 21.45, a PEG ratio of 2.16 and a beta of 0.63.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date is Tuesday, November 12th. PC Connection’s dividend payout ratio is currently 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 stock was sold at an average price of $70.00, for a total transaction 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. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

Institutional investors have recently added to or reduced their stakes in the stock. Point72 DIFC Ltd bought a new position in shares of PC Connection during the 3rd quarter valued at about $28,000. Signaturefd LLC boosted its stake in PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after buying an additional 374 shares during the last quarter. Innealta Capital LLC bought a new position in PC Connection during the second quarter valued at approximately $60,000. CWM LLC grew its holdings in PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after buying an additional 473 shares in the last quarter. Finally, nVerses Capital LLC increased its stake in PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after acquiring an additional 1,000 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.