PC Connection (NASDAQ:CNXN) Stock Price Down 0.3% – Time to Sell?

PC Connection, Inc. (NASDAQ:CNXNGet Free Report) fell 0.3% on Tuesday . The company traded as low as $73.88 and last traded at $74.36. 15,259 shares changed hands during trading, a decline of 81% from the average session volume of 79,271 shares. The stock had previously closed at $74.55.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on PC Connection

PC Connection Stock Performance

The business has a 50 day moving average of $72.02 and a two-hundred day moving average of $69.90. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.76, a P/E/G ratio of 2.14 and a beta of 0.66.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insiders Place Their Bets

In related news, Director Negrini David Beffa sold 5,000 shares of the company’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 sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently bought and sold shares of CNXN. Point72 DIFC Ltd purchased a new position in PC Connection in the third quarter worth $28,000. Signaturefd LLC lifted its stake 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 purchasing an additional 374 shares during the last quarter. Innealta Capital LLC purchased a new position in shares of PC Connection in the 2nd quarter worth about $60,000. CWM LLC increased its position in shares of PC Connection by 125.5% during the 3rd quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after purchasing an additional 473 shares during the last quarter. Finally, nVerses Capital LLC increased its position in shares of PC Connection by 1,000.0% during the 3rd quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after purchasing an additional 1,000 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

PC Connection Company Profile

(Get Free Report)

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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