PC Connection (NASDAQ:CNXN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

PC Connection, Inc. (NASDAQ:CNXN) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $70.77 and traded as high as $71.65. PC Connection shares last traded at $71.21, with a volume of 71,275 shares.

Analyst Upgrades and Downgrades

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

PC Connection Stock Down 0.5 %

The business has a 50-day simple moving average of $71.40 and a two-hundred day simple moving average of $70.84. The company has a market cap of $1.89 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.94 and a beta of 0.67.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. PC Connection’s payout ratio is 11.73%.

Insiders Place Their Bets

In related news, Director Negrini David Beffa sold 5,000 shares of the firm’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 directly owns 71,750 shares of the company’s stock, valued at $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 56.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in PC Connection by 59.3% during the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock worth $2,555,000 after acquiring an additional 12,608 shares in the last quarter. Geode Capital Management LLC increased its holdings in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares during the last quarter. Barclays PLC raised its holdings in shares of PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after purchasing an additional 23,084 shares during the period. Jane Street Group LLC raised its stake in PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after buying an additional 15,916 shares during the period. Finally, State Street Corp lifted its holdings in PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after purchasing an additional 34,248 shares during the last quarter. Institutional investors and hedge funds 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.