PC Connection (NASDAQ:CNXN) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of PC Connection (NASDAQ:CNXN) from a buy rating to a strong-buy rating in a research note published on Thursday.

PC Connection Stock Performance

NASDAQ CNXN opened at $62.82 on Thursday. The firm has a market cap of $1.66 billion, a PE ratio of 19.88, a P/E/G ratio of 1.80 and a beta of 0.66. PC Connection has a one year low of $37.76 and a one year high of $70.55. The firm’s fifty day moving average is $65.43 and its two-hundred day moving average is $62.97.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. Research analysts predict that PC Connection will post 3.5 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a positive change from PC Connection’s previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. PC Connection’s payout ratio is currently 12.66%.

Institutional Trading of PC Connection

Hedge funds and other institutional investors have recently made changes to their positions in the company. Coppell Advisory Solutions Corp. purchased a new stake in shares of PC Connection in the fourth quarter valued at about $25,000. Point72 Middle East FZE purchased a new stake in shares of PC Connection in the fourth quarter valued at about $28,000. Russell Investments Group Ltd. purchased a new stake in PC Connection during the first quarter worth about $28,000. Tower Research Capital LLC TRC boosted its holdings in PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after buying an additional 290 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in PC Connection by 2,189.7% during the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after buying an additional 854 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.