PC Connection (NASDAQ:CNXN) Announces Quarterly Earnings Results

PC Connection (NASDAQ:CNXN - Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12), Zacks reports. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. During the same period in the prior year, the firm posted $0.90 earnings per share.

PC Connection Stock Down 0.7 %

Shares of CNXN stock traded down $0.46 during trading hours on Friday, reaching $63.51. The company's stock had a trading volume of 120,436 shares, compared to its average volume of 75,702. PC Connection has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The company has a market capitalization of $1.67 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.87 and a beta of 0.67. The firm's 50 day simple moving average is $71.31 and its 200-day simple moving average is $71.41.

PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, February 25th. This is a boost from PC Connection's previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.94%. PC Connection's dividend payout ratio is presently 12.16%.

Insider Buying and Selling

In other PC Connection 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 transaction, the director now owns 71,750 shares in the company, valued at $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 56.90% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com raised shares of PC Connection from a "hold" rating to a "buy" rating in a report on Thursday, November 28th.

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.