PC Connection (NASDAQ:CNXN) Shares Up 0.2% – Time to Buy?

PC Connection, Inc. (NASDAQ:CNXN)’s share price shot up 0.2% during mid-day trading on Tuesday . The stock traded as high as $74.06 and last traded at $73.69. 12,483 shares traded hands during trading, a decline of 84% from the average session volume of 79,965 shares. The stock had previously closed at $73.51.

Wall Street Analyst Weigh In

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

PC Connection Stock Performance

The company has a market cap of $1.92 billion, a price-to-earnings ratio of 21.42, a price-to-earnings-growth ratio of 2.17 and a beta of 0.63. The company’s 50 day moving average price is $72.24 and its 200 day moving average price is $69.28.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, November 12th. PC Connection’s payout ratio is 11.73%.

Insiders Place Their Bets

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director now 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 SEC, which is available at the SEC website. Insiders own 56.50% of the company’s stock.

Institutional Trading of PC Connection

Large investors have recently modified their holdings of the company. Point72 DIFC Ltd bought a new position in PC Connection in the 3rd quarter worth $28,000. Signaturefd LLC grew its position in shares of PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after purchasing an additional 374 shares during the last quarter. Innealta Capital LLC bought a new position in shares of PC Connection in the second quarter worth about $60,000. CWM LLC lifted its position in shares of PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after purchasing an additional 473 shares during the last quarter. Finally, nVerses Capital LLC boosted 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 valued at $83,000 after purchasing 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.