PC Connection, Inc. (CNXN) to Issue Quarterly Dividend of $0.10 on November 29th

PC Connection, Inc. (NASDAQ:CNXN) announced a quarterly dividend on Wednesday, October 30th, Zacks reports. Investors of record on Tuesday, November 12th will be given a dividend of 0.10 per share on Friday, November 29th. This represents a $0.40 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 12th.

PC Connection has a payout ratio of 10.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $3.90 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.3%.

PC Connection Price Performance

Shares of NASDAQ:CNXN traded down $3.70 on Friday, reaching $63.65. 112,369 shares of the company traded hands, compared to its average volume of 58,277. The stock has a market capitalization of $1.67 billion, a PE ratio of 18.67, a P/E/G ratio of 1.92 and a beta of 0.62. The company’s 50 day moving average is $72.44 and its 200-day moving average is $68.15. PC Connection has a fifty-two week low of $51.63 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The company had revenue of $724.72 million during the quarter, compared to analyst estimates of $726.98 million. PC Connection had a net margin of 3.23% and a return on equity of 10.42%. As a group, analysts expect that PC Connection will post 3.52 EPS for the current year.

Insider Activity

In other PC Connection news, CEO Timothy J. Mcgrath sold 15,377 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $70.18, for a total transaction of $1,079,157.86. Following the completion of the sale, the chief executive officer now directly owns 277,691 shares in the company, valued at approximately $19,488,354.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 56.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 29th.

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.