PC Connection (NASDAQ:CNXN) Shares Up 0.3% - Should You Buy?

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) shot up 0.3% during trading on Friday . The stock traded as high as $74.08 and last traded at $73.50. 3,907 shares traded hands during trading, a decline of 95% from the average session volume of 79,359 shares. The stock had previously closed at $73.26.

Analysts Set New Price Targets

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

PC Connection Trading Up 0.5 %

The company has a market capitalization of $1.93 billion, a P/E ratio of 21.55, a P/E/G ratio of 2.20 and a beta of 0.66. The business's fifty day moving average price is $72.09 and its 200-day moving average price is $69.54.

PC Connection Dividend Announcement

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

Insider Buying and Selling at PC Connection

In other news, Director Negrini David Beffa sold 5,000 shares of the firm's stock in a transaction dated 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 directly owns 71,750 shares of the company's stock, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 56.90% of the company's stock.

Institutional Investors Weigh In On PC Connection

Hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its stake in PC Connection by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,092 shares of the company's stock worth $534,000 after purchasing an additional 499 shares during the period. Summit Global Investments bought a new stake in PC Connection during the 2nd quarter valued at $505,000. Bailard Inc. bought a new stake in PC Connection during the 2nd quarter valued at $494,000. Allspring Global Investments Holdings LLC boosted its position in PC Connection by 9.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 104,387 shares of the company's stock valued at $6,702,000 after buying an additional 9,029 shares during the period. Finally, Innealta Capital LLC bought a new stake in PC Connection in the 2nd quarter worth $60,000. Institutional investors 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.

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