PC Connection (NASDAQ:CNXN) Shares Down 1.3% - Time to Sell?

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report)'s share price fell 1.3% on Tuesday . The company traded as low as $72.27 and last traded at $73.12. 9,951 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 79,131 shares. The stock had previously closed at $74.08.

Wall Street Analyst Weigh In

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

PC Connection Stock Down 0.1 %

The firm has a market capitalization of $1.95 billion, a PE ratio of 21.44, a PEG ratio of 2.17 and a beta of 0.66. The stock has a 50-day moving average price of $72.03 and a 200 day moving average price of $69.62.

PC Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.54%. PC Connection's dividend payout ratio is currently 11.73%.

Insider Activity at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction dated 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 sale, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 56.50% of the stock is currently owned by corporate insiders.

Institutional Trading of PC Connection

Large investors have recently bought and sold shares of the business. Point72 DIFC Ltd purchased a new position in PC Connection in the 3rd quarter worth approximately $28,000. Signaturefd LLC lifted its position in PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company's stock worth $37,000 after buying an additional 374 shares in the last quarter. CWM LLC boosted its stake in 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. Innealta Capital LLC purchased a new stake in PC Connection in the 2nd quarter valued at $60,000. Finally, nVerses Capital LLC increased its stake in shares of PC Connection by 1,000.0% in the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company's stock worth $83,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

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.

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