PC Connection (NASDAQ:CNXN) Shares Down 0.9% – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN) shares were down 0.9% during trading on Thursday . The stock traded as low as $72.49 and last traded at $73.05. Approximately 54,514 shares were traded during trading, a decline of 32% from the average daily volume of 80,094 shares. The stock had previously closed at $73.75.

Analyst Upgrades and Downgrades

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

PC Connection Trading Down 0.9 %

The firm has a market capitalization of $1.92 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.17 and a beta of 0.63. The company’s fifty day moving average is $72.24 and its 200-day moving average is $69.28.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend is Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 56.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 DIFC Ltd acquired a new position in shares of PC Connection in the 3rd quarter valued at $28,000. Signaturefd LLC boosted its position in shares of PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock worth $37,000 after purchasing an additional 374 shares in the last quarter. CWM LLC grew its holdings in shares of PC Connection by 125.5% in the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after buying an additional 473 shares during the period. Innealta Capital LLC bought a new stake in shares of PC Connection in the 2nd quarter valued at $60,000. Finally, nVerses Capital LLC raised its stake in PC Connection by 1,000.0% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after buying an additional 1,000 shares during the period. 42.85% of the stock is owned by institutional investors.

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.