PC Connection (NASDAQ:CNXN) Stock Crosses Above 200-Day Moving Average – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $65.89 and traded as high as $67.90. PC Connection shares last traded at $67.28, with a volume of 25,627 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 9th.

PC Connection Price Performance

The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 20.39, a price-to-earnings-growth ratio of 1.93 and a beta of 0.69. The firm’s 50-day simple moving average is $66.17 and its two-hundred day simple moving average is $65.89.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.18. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. The company had revenue of $701.05 million for the quarter, compared to the consensus estimate of $646.37 million. On average, analysts expect that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Tuesday, May 13th. PC Connection’s dividend payout ratio (DPR) is presently 18.18%.

Insider Activity

In other PC Connection news, Director Jack L. Ferguson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total value of $66,320.00. Following the sale, the director owned 66,055 shares of the company’s stock, valued at $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy J. Mcgrath sold 5,440 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the completion of the sale, the chief executive officer directly owned 260,387 shares in the company, valued at $17,458,948.35. This trade represents a 2.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,005 shares of company stock worth $2,205,614 in the last ninety days. Insiders own 55.20% of the company’s stock.

Institutional Trading of PC Connection

A number of hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of PC Connection by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company’s stock worth $17,437,000 after purchasing an additional 6,903 shares during the period. Victory Capital Management Inc. increased its stake in PC Connection by 10.2% in the fourth quarter. Victory Capital Management Inc. now owns 52,668 shares of the company’s stock valued at $3,648,000 after purchasing an additional 4,896 shares during the last quarter. AlphaQuest LLC acquired a new position in PC Connection in the fourth quarter valued at $735,000. Picton Mahoney Asset Management increased its stake in PC Connection by 64.6% in the fourth quarter. Picton Mahoney Asset Management now owns 7,380 shares of the company’s stock valued at $511,000 after purchasing an additional 2,897 shares during the last quarter. Finally, Royce & Associates LP increased its stake in PC Connection by 1.8% in the fourth quarter. Royce & Associates LP now owns 80,232 shares of the company’s stock valued at $5,558,000 after purchasing an additional 1,442 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

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.