PC Connection (NASDAQ:CNXN) Trading Up 0.3% – Time to Buy?

PC Connection, Inc. (NASDAQ:CNXN)’s share price shot up 0.3% on Friday . The stock traded as high as $74.08 and last traded at $73.50. 3,907 shares were traded during trading, a decline of 95% from the average session volume of 79,359 shares. The stock had previously closed at $73.26.

Wall Street Analysts Forecast Growth

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

PC Connection Trading Up 0.5 %

The stock’s fifty day moving average price is $72.09 and its 200 day moving average price is $69.54. The stock has a market cap of $1.93 billion, a P/E ratio of 21.55, a PEG ratio of 2.20 and a beta of 0.66.

PC Connection Announces Dividend

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

Insider Buying and Selling 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 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. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

A number of institutional investors have recently made changes to their positions in CNXN. Martingale Asset Management L P raised its holdings in PC Connection by 0.4% in the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after acquiring an additional 140 shares during the last quarter. Amalgamated Bank increased its holdings in shares of PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares in the last quarter. New York State Teachers Retirement System raised its stake in shares of PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock worth $348,000 after purchasing an additional 216 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock valued at $453,000 after purchasing an additional 300 shares in the last quarter. Finally, Point72 DIFC Ltd purchased a new stake in shares of PC Connection during the third quarter valued at $28,000. 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.