PC Connection (NASDAQ:CNXN) Stock Price Down 0.9% – Time to Sell?

PC Connection, Inc. (NASDAQ:CNXN)’s stock price traded down 0.9% during mid-day trading on Thursday . The company traded as low as $72.49 and last traded at $73.05. 54,514 shares traded hands during trading, a decline of 32% from the average session volume of 80,094 shares. The stock had previously closed at $73.75.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday.

PC Connection Stock Performance

The company has a market capitalization of $1.91 billion, a price-to-earnings ratio of 21.28, a price-to-earnings-growth ratio of 2.16 and a beta of 0.63. The firm has a fifty day moving average price of $72.18 and a 200-day moving average price of $69.30.

PC Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Tuesday, November 12th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.55%. The ex-dividend date was Tuesday, November 12th. PC Connection’s dividend payout ratio is currently 11.73%.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 56.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PC Connection

A number of institutional investors have recently made changes to their positions in the stock. Martingale Asset Management L P boosted its holdings in PC Connection by 0.4% in the third quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock valued at $2,798,000 after acquiring an additional 140 shares during the last quarter. Amalgamated Bank lifted its position in shares of PC Connection by 4.6% in the 3rd quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares during the period. New York State Teachers Retirement System boosted its stake in shares of PC Connection by 4.9% in the 3rd quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock valued at $348,000 after purchasing an additional 216 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after buying an additional 300 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new position in PC Connection in the third quarter valued at $28,000. Institutional investors own 42.85% of the company’s stock.

About PC Connection

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.