PC Connection (NASDAQ:CNXN) Stock Price Down 0.9% – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN) fell 0.9% during trading on Thursday . The stock traded as low as $72.49 and last traded at $73.05. 54,514 shares were traded during trading, a decline of 32% from the average session volume of 80,094 shares. The stock had previously closed at $73.75.

Analysts Set New Price Targets

Separately, StockNews.com raised PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday.

PC Connection Stock Down 0.6 %

The firm has a market capitalization of $1.91 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The company’s 50 day moving average is $72.18 and its 200-day moving average is $69.30.

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 given a dividend of $0.10 per share. The ex-dividend date was Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Insider Activity at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now directly owns 71,750 shares in the company, valued at $5,022,500. This trade represents a 6.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 56.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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