PC Connection (NASDAQ:CNXN) Shares Down 0.7% – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN) fell 0.7% during trading on Thursday . The stock traded as low as $73.01 and last traded at $73.21. 3,342 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 79,003 shares. The stock had previously closed at $73.73.

Wall Street Analyst Weigh In

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

PC Connection Trading Down 1.8 %

The company has a market cap of $1.90 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 2.18 and a beta of 0.66. The stock has a 50-day simple moving average of $72.05 and a 200-day simple moving average of $69.75.

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Tuesday, November 12th were given a $0.10 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. PC Connection’s dividend payout ratio is presently 11.73%.

Insiders Place Their Bets

In other news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 56.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in PC Connection by 23.6% in the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after acquiring an additional 240,312 shares in the last quarter. State Street Corp raised its holdings in shares of PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock worth $37,384,000 after purchasing an additional 34,248 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares in the last quarter. American Century Companies Inc. lifted its stake in PC Connection by 31.1% during the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock valued at $16,884,000 after purchasing an additional 62,398 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in PC Connection by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 244,818 shares of the company’s stock worth $18,467,000 after buying an additional 10,925 shares in the last quarter. 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.