PC Connection, Inc. (NASDAQ:CNXN) Short Interest Update

PC Connection, Inc. (NASDAQ:CNXN) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 200,000 shares, a decline of 8.0% from the January 15th total of 217,400 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average daily volume of 75,600 shares, the short-interest ratio is presently 2.6 days.

PC Connection Stock Performance

PC Connection stock traded down $0.01 during midday trading on Tuesday, reaching $65.68. 106,687 shares of the stock were exchanged, compared to its average volume of 80,816. The company’s fifty day moving average is $70.23 and its 200-day moving average is $71.20. The firm has a market cap of $1.73 billion, a PE ratio of 19.96, a PEG ratio of 1.87 and a beta of 0.67. PC Connection has a 52 week low of $57.47 and a 52 week high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same quarter in the prior year, the business posted $0.90 EPS. On average, sell-side analysts anticipate that PC Connection will post 3.43 earnings per share for the current fiscal year.

PC Connection Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, February 25th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, February 25th. This is a positive change from PC Connection’s previous quarterly dividend of $0.10. PC Connection’s dividend payout ratio is 12.16%.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the sale, the director now owns 71,750 shares of the company’s stock, valued at $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 56.90% of the company’s stock.

Hedge Funds Weigh In On PC Connection

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in PC Connection by 27.5% in the 3rd quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after buying an additional 10,314 shares in the last quarter. GSA Capital Partners LLP purchased a new position in PC Connection in the 3rd quarter worth approximately $591,000. Geode Capital Management LLC grew its stake in 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 buying an additional 23,358 shares in the last quarter. Jane Street Group LLC grew its stake in PC Connection by 195.9% in the 3rd quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after buying an additional 15,916 shares in the last quarter. Finally, State Street Corp grew its stake in 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 buying an additional 34,248 shares in the last quarter. 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.