PC Connection (NASDAQ:CNXN) Shares Up 3.1% - Time to Buy?

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report)'s share price was up 3.1% during trading on Tuesday . The stock traded as high as $61.64 and last traded at $62.00. Approximately 9,323 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 81,197 shares. The stock had previously closed at $60.13.

Wall Street Analyst Weigh In

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

PC Connection Stock Down 0.9 %

The company has a market capitalization of $1.61 billion, a PE ratio of 18.73, a P/E/G ratio of 1.96 and a beta of 0.61. The stock has a 50-day moving average of $66.61 and a 200 day moving average of $70.04.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate 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 in the prior year, the business earned $0.90 earnings per share. Equities analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

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PC Connection Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.97%. This is a boost from PC Connection's previous quarterly dividend of $0.10. The ex-dividend date was Tuesday, February 25th. PC Connection's payout ratio is presently 18.24%.

Hedge Funds Weigh In On PC Connection

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its stake in PC Connection by 27.5% during the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company's stock worth $3,603,000 after purchasing an additional 10,314 shares during the last quarter. Geode Capital Management LLC lifted its stake in PC Connection by 7.2% in the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company's stock worth $26,113,000 after acquiring an additional 23,358 shares during the period. Jane Street Group LLC lifted its stake in PC Connection by 195.9% in the third quarter. Jane Street Group LLC now owns 24,040 shares of the company's stock worth $1,813,000 after acquiring an additional 15,916 shares during the period. State Street Corp raised its holdings in PC Connection by 7.4% in the third quarter. State Street Corp now owns 495,611 shares of the company's stock worth $37,384,000 after purchasing an additional 34,248 shares in the last quarter. Finally, Barclays PLC raised its holdings in PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company's stock worth $2,717,000 after purchasing an additional 23,084 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

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.