Short Interest in PC Connection, Inc. (NASDAQ:CNXN) Drops By 8.0%

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 200,000 shares, a drop of 8.0% from the January 15th total of 217,400 shares. Approximately 2.0% of the company's stock are sold short. Based on an average daily volume of 75,600 shares, the days-to-cover ratio is presently 2.6 days.

PC Connection Stock Down 0.4 %

Shares of NASDAQ CNXN traded down $0.26 during midday trading on Friday, hitting $65.03. 145,429 shares of the company's stock were exchanged, compared to its average volume of 84,460. PC Connection has a 12 month low of $57.47 and a 12 month high of $77.19. The company's 50 day moving average price is $69.74 and its 200 day moving average price is $71.07. The firm has a market capitalization of $1.71 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same period last year, the business earned $0.90 earnings per share. On average, equities research analysts anticipate that PC Connection will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, February 25th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. This is an increase from PC Connection's previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Tuesday, February 25th. PC Connection's dividend payout ratio is presently 12.16%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded PC Connection from a "hold" rating to a "buy" rating in a research note on Thursday, November 28th.

Institutional Trading of PC Connection

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC raised its position in PC Connection by 125.5% in the third quarter. CWM LLC now owns 850 shares of the company's stock valued at $64,000 after purchasing an additional 473 shares during the last quarter. nVerses Capital LLC lifted its holdings in shares of PC Connection by 1,000.0% in the third 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 in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of PC Connection by 34.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 139,892 shares of the company's stock valued at $10,552,000 after purchasing an additional 35,505 shares in the last quarter. Signaturefd LLC increased its position in PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company's stock worth $37,000 after buying an additional 374 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its position in PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company's stock worth $453,000 after buying an additional 300 shares in the last quarter. 42.85% of the stock is currently 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.