PC Connection (NASDAQ:CNXN) Trading Down 0.3% – Time to Sell?

PC Connection, Inc. (NASDAQ:CNXN)’s share price fell 0.3% on Tuesday . The company traded as low as $73.88 and last traded at $74.36. 15,259 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 79,271 shares. The stock had previously closed at $74.55.

Analysts Set New Price Targets

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

PC Connection Stock Up 0.4 %

The firm has a market capitalization of $1.86 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.14 and a beta of 0.66. The stock has a fifty day moving average of $72.02 and a 200-day moving average of $69.90.

PC Connection Dividend Announcement

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

Insider Buying and Selling at PC Connection

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 completion of the transaction, the director now directly owns 71,750 shares in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 56.90% of the company’s stock.

Institutional Trading of PC Connection

Large investors have recently made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of PC Connection in the 3rd quarter valued at approximately $28,000. Signaturefd LLC boosted its position in 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 buying an additional 374 shares in the last quarter. Innealta Capital LLC acquired a new stake in PC Connection in the second quarter valued at approximately $60,000. CWM LLC grew its stake in shares of PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company’s stock worth $64,000 after buying an additional 473 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in shares of PC Connection by 1,000.0% during the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after buying an additional 1,000 shares in 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.