PC Connection (NASDAQ:CNXN) Shares Down 0.4% – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN)’s share price was down 0.4% during trading on Wednesday . The stock traded as low as $69.22 and last traded at $69.58. Approximately 13,901 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 80,224 shares. The stock had previously closed at $69.89.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded PC Connection from a “buy” rating to a “hold” rating in a report on Wednesday.

PC Connection Stock Up 1.8 %

The stock has a market capitalization of $1.88 billion, a P/E ratio of 21.02, a P/E/G ratio of 2.06 and a beta of 0.63. The business has a fifty day moving average price of $72.28 and a 200-day moving average price of $68.95.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Tuesday, November 12th. PC Connection’s payout ratio is currently 11.73%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Pacer Advisors Inc. increased its position in PC Connection by 23.6% during the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock valued at $80,781,000 after acquiring an additional 240,312 shares during the last quarter. Vanguard Group Inc. grew its holdings in PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after buying an additional 14,838 shares in the last quarter. State Street Corp boosted its holdings in shares of PC Connection by 7.4% in the 3rd 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 during the period. Geode Capital Management LLC boosted its holdings in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after purchasing an additional 23,358 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of PC Connection by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after purchasing an additional 62,398 shares during the period. 42.85% of the stock is owned by institutional investors.

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.