PC Connection (NASDAQ:CNXN) Sets New 1-Year High at $76.54

PC Connection, Inc. (NASDAQ:CNXN)’s share price reached a new 52-week high on Friday . The stock traded as high as $76.54 and last traded at $75.93, with a volume of 41707 shares traded. The stock had previously closed at $76.14.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 29th.

PC Connection Trading Up 0.4 %

The firm has a market capitalization of $2.01 billion, a PE ratio of 24.40, a PEG ratio of 2.00 and a beta of 0.62. The stock has a 50 day simple moving average of $69.77 and a 200 day simple moving average of $66.53.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.17. PC Connection had a net margin of 3.22% and a return on equity of 10.51%. The business had revenue of $736.48 million for the quarter, compared to analyst estimates of $703.50 million. As a group, equities analysts anticipate that PC Connection, Inc. will post 3.55 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Tuesday, August 13th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, August 13th. PC Connection’s dividend payout ratio (DPR) is presently 12.82%.

Insider Buying and Selling at PC Connection

In related news, CEO Timothy J. Mcgrath sold 15,377 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $70.18, for a total value of $1,079,157.86. Following the transaction, the chief executive officer now directly owns 277,691 shares of the company’s stock, valued at approximately $19,488,354.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 56.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On PC Connection

Large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. increased its position in PC Connection by 23.6% in the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock worth $80,781,000 after buying an additional 240,312 shares in the last quarter. American Century Companies Inc. boosted its position in shares of PC Connection by 31.1% in the second quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after purchasing an additional 62,398 shares during the period. Millennium Management LLC increased its stake in shares of PC Connection by 108.0% in the second quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock worth $4,158,000 after purchasing an additional 33,626 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of PC Connection by 319.4% during the 2nd quarter. Victory Capital Management Inc. now owns 37,458 shares of the company’s stock valued at $2,405,000 after buying an additional 28,526 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in PC Connection in the 1st quarter worth approximately $1,701,000. 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.