StockNews.com Begins Coverage on PC Connection (NASDAQ:CNXN)

StockNews.com started coverage on shares of PC Connection (NASDAQ:CNXN – Get Rating) in a research report released on Thursday. The brokerage issued a buy rating on the stock.

PC Connection Price Performance

PC Connection stock opened at $42.67 on Thursday. The firm has a 50 day simple moving average of $45.94 and a 200-day simple moving average of $48.07. PC Connection has a 1-year low of $40.71 and a 1-year high of $56.68. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 12.62 and a beta of 0.77.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Tuesday, February 21st were issued a $0.08 dividend. The ex-dividend date was Friday, February 17th. This represents a $0.32 annualized dividend and a dividend yield of 0.75%. PC Connection’s dividend payout ratio is currently 9.47%.

Insider Transactions at PC Connection

In other news, Chairman Patricia Gallup sold 3,133 shares of the company’s stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $47.94, for a total value of $150,196.02. Following the transaction, the chairman now directly owns 7,082,609 shares in the company, valued at approximately $339,540,275.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 16,487 shares of company stock worth $802,107. 57.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PC Connection

A number of hedge funds have recently added to or reduced their stakes in CNXN. Vanguard Group Inc. lifted its holdings in PC Connection by 8.5% during the 3rd quarter. Vanguard Group Inc. now owns 869,443 shares of the company’s stock worth $39,204,000 after buying an additional 68,430 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in PC Connection by 768.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 40,797 shares of the company’s stock worth $1,840,000 after buying an additional 36,100 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in PC Connection by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,854,344 shares of the company’s stock worth $86,970,000 after buying an additional 28,411 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in PC Connection during the 2nd quarter worth approximately $1,218,000. Finally, Linden Thomas Advisory Services LLC acquired a new stake in PC Connection during the 4th quarter worth approximately $1,234,000. 42.51% of the stock is currently owned by institutional investors and hedge funds.

PC Connection Company Profile

(Get Rating)

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.