PC Connection (NASDAQ:CNXN) Hits New 12-Month Low – What’s Next?

Shares of PC Connection, Inc. (NASDAQ:CNXN) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $54.97 and last traded at $56.49, with a volume of 8975 shares trading hands. The stock had previously closed at $55.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of PC Connection in a research report on Wednesday. Wall Street Zen downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Zacks Research lowered PC Connection from a “hold” rating to a “strong sell” rating in a report on Friday, October 31st. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PC Connection currently has a consensus rating of “Reduce”.

PC Connection Price Performance

The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.74 and a beta of 0.74. The company’s 50-day simple moving average is $60.61 and its 200-day simple moving average is $63.59.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, October 29th. The company reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). The firm had revenue of $709.07 million for the quarter, compared to the consensus estimate of $749.81 million. PC Connection had a return on equity of 9.64% and a net margin of 2.91%. Research analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, November 10th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.0%. PC Connection’s dividend payout ratio (DPR) is currently 18.58%.

Hedge Funds Weigh In On PC Connection

Hedge funds have recently bought and sold shares of the business. CWM LLC raised its stake in PC Connection by 67.4% in the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock worth $102,000 after purchasing an additional 659 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of PC Connection by 22.8% during the first quarter. Victory Capital Management Inc. now owns 64,686 shares of the company’s stock worth $4,038,000 after purchasing an additional 12,018 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of PC Connection in the first quarter valued at approximately $279,000. KLP Kapitalforvaltning AS boosted its stake in shares of PC Connection by 103.2% in the first quarter. KLP Kapitalforvaltning AS now owns 12,800 shares of the company’s stock valued at $799,000 after buying an additional 6,500 shares during the period. Finally, XTX Topco Ltd acquired a new stake in PC Connection during the first quarter worth approximately $1,263,000. 42.85% of the stock is owned by institutional investors.

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.