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

PC Connection, Inc. (NASDAQ:CNXN)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.67 and traded as high as $64.84. PC Connection shares last traded at $63.82, with a volume of 101,608 shares trading hands.

Wall Street Analysts Forecast Growth

CNXN has been the subject of several research analyst reports. Zacks Research raised PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

PC Connection Price Performance

The company has a fifty day moving average price of $59.70 and a two-hundred day moving average price of $60.67. The company has a market capitalization of $1.61 billion, a P/E ratio of 19.52, a PEG ratio of 1.69 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. PC Connection had a net margin of 2.91% and a return on equity of 9.87%. The business had revenue of $702.94 million during the quarter, compared to analyst estimates of $735.49 million. As a group, sell-side analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a $0.20 dividend. This is a positive change from PC Connection’s previous quarterly dividend of $0.15. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, February 17th. PC Connection’s payout ratio is presently 18.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Martingale Asset Management L P increased its stake in shares of PC Connection by 1.3% in the fourth quarter. Martingale Asset Management L P now owns 19,137 shares of the company’s stock valued at $1,105,000 after buying an additional 252 shares during the period. Prudential Financial Inc. boosted its holdings in PC Connection by 0.9% in the second quarter. Prudential Financial Inc. now owns 31,255 shares of the company’s stock valued at $2,189,000 after acquiring an additional 264 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after purchasing an additional 312 shares during the period. Franklin Resources Inc. raised its holdings in PC Connection by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock worth $286,000 after purchasing an additional 348 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in PC Connection by 6.7% during the 4th quarter. WINTON GROUP Ltd now owns 6,257 shares of the company’s stock worth $361,000 after purchasing an additional 394 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Company Profile

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.