PC Connection (NASDAQ:CNXN) Trading Up 1.4% – Still a Buy?

PC Connection, Inc. (NASDAQ:CNXN) traded up 1.4% on Friday . The stock traded as high as $72.97 and last traded at $72.74. 5,750 shares changed hands during trading, a decline of 93% from the average session volume of 80,000 shares. The stock had previously closed at $71.73.

Analyst Ratings Changes

Separately, StockNews.com lowered PC Connection from a “buy” rating to a “hold” rating in a research report on Wednesday.

PC Connection Trading Up 1.4 %

The stock has a market cap of $1.91 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.12 and a beta of 0.63. The business’s fifty day simple moving average is $72.29 and its 200 day simple moving average is $69.04.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a $0.10 dividend. 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 (DPR) is presently 11.73%.

Insiders Place Their Bets

In other news, Director Negrini David Beffa sold 5,000 shares of the business’s 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 completion of the sale, the director now owns 71,750 shares in the company, valued at $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 56.90% of the company’s stock.

Institutional Trading of PC Connection

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Martingale Asset Management L P boosted its stake in shares of PC Connection by 0.4% in the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after purchasing an additional 140 shares during the last quarter. Amalgamated Bank lifted its holdings in PC Connection by 4.6% in the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock valued at $266,000 after buying an additional 154 shares during the period. New York State Teachers Retirement System boosted its stake in 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 valued at $348,000 after acquiring an additional 216 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in PC Connection by 5.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after acquiring an additional 300 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in PC Connection during the 3rd quarter worth $28,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.