PC Connection (NASDAQ:CNXN) Trading Up 1.6% - Should You Buy?

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report)'s share price rose 1.6% on Monday . The stock traded as high as $74.21 and last traded at $73.91. Approximately 8,925 shares were traded during trading, a decline of 89% from the average daily volume of 79,910 shares. The stock had previously closed at $72.74.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of PC Connection from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th.

PC Connection Stock Up 1.1 %

The stock has a 50-day moving average of $72.29 and a 200 day moving average of $69.12. The company has a market capitalization of $1.93 billion, a PE ratio of 21.56, a P/E/G ratio of 2.15 and a beta of 0.63.

PC Connection Announces Dividend

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

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now owns 71,750 shares of the company's stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 56.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Martingale Asset Management L P raised its position in shares of PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company's stock worth $2,798,000 after buying an additional 140 shares in the last quarter. Amalgamated Bank increased its stake in PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company's stock worth $266,000 after acquiring an additional 154 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of PC Connection by 4.9% in the 3rd quarter. New York State Teachers Retirement System now owns 4,613 shares of the company's stock valued at $348,000 after acquiring an additional 216 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of PC Connection by 5.3% during the 3rd quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company's stock valued at $453,000 after acquiring an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd purchased a new position in shares of PC Connection during the third quarter worth about $28,000. 42.85% of the stock is owned by 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.

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