PC Connection (NASDAQ:CNXN) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.77 and traded as high as $70.01. PC Connection shares last traded at $69.59, with a volume of 144,509 shares traded.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

PC Connection Stock Up 2.4%

The firm has a market capitalization of $1.76 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.73 and a beta of 0.86. The stock has a fifty day moving average of $62.98 and a 200-day moving average of $60.77.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. The business had revenue of $721.87 million during the quarter, compared to the consensus estimate of $696.09 million. PC Connection had a return on equity of 10.17% and a net margin of 3.02%. Sell-side analysts predict that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 12th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. PC Connection’s dividend payout ratio (DPR) is presently 23.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Amundi bought a new position in shares of PC Connection during the first quarter worth about $206,000. Quantinno Capital Management LP grew its holdings in shares of PC Connection by 137.8% during the first quarter. Quantinno Capital Management LP now owns 17,166 shares of the company’s stock worth $1,004,000 after buying an additional 9,947 shares in the last quarter. Aristides Capital LLC acquired a new position in PC Connection during the first quarter valued at approximately $220,000. Inceptionr LLC acquired a new position in PC Connection during the first quarter valued at approximately $320,000. Finally, Sei Investments Co. boosted its position in PC Connection by 150.2% during the first quarter. Sei Investments Co. now owns 27,384 shares of the company’s stock valued at $1,601,000 after purchasing an additional 16,441 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.