PC Connection (NASDAQ:CNXN) Shares Pass Above 200 Day Moving Average – Time to Sell?

PC Connection, Inc. (NASDAQ:CNXN)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $62.08 and traded as high as $71.18. PC Connection shares last traded at $69.64, with a volume of 128,816 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CNXN shares. Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, PC Connection has a consensus rating of “Moderate Buy”.

PC Connection Trading Down 1.5%

The firm has a 50-day moving average of $66.47 and a 200 day moving average of $62.08. The company has a market cap of $1.76 billion, a P/E ratio of 20.24, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88.

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

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th were paid a $0.20 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. PC Connection’s payout ratio is currently 23.26%.

Insider Activity

In related news, Chairman Patricia Gallup sold 7,384 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $71.91, for a total transaction of $530,983.44. Following the transaction, the chairman owned 7,027,747 shares in the company, valued at $505,365,286.77. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 56.60% of the stock is owned by insiders.

Institutional Investors Weigh In On PC Connection

Large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake in PC Connection by 0.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,494 shares of the company’s stock valued at $89,237,000 after purchasing an additional 4,345 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of PC Connection by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock valued at $62,390,000 after purchasing an additional 10,218 shares during the period. Geode Capital Management LLC boosted its position in shares of PC Connection by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock worth $21,777,000 after purchasing an additional 2,945 shares in the last quarter. Invesco Ltd. boosted its position in shares of PC Connection by 22.1% during the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock worth $12,662,000 after purchasing an additional 39,716 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of PC Connection by 71.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock valued at $10,264,000 after buying an additional 68,906 shares during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.