PC Connection (NASDAQ:CNXN) Sees Large Volume Increase – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN) saw an uptick in trading volume on Monday . 93,300 shares changed hands during mid-day trading, an increase of 25% from the previous session’s volume of 74,691 shares.The stock last traded at $61.0590 and had previously closed at $61.29.

Analyst Upgrades and Downgrades

CNXN has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PC Connection in a research note on Monday, December 8th. 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

PC Connection Stock Down 1.3%

The stock has a 50-day moving average of $59.46 and a 200 day moving average of $62.45. The stock has a market cap of $1.50 billion, a PE ratio of 18.35, a P/E/G ratio of 1.77 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, October 29th. The company reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.01 by ($0.04). PC Connection had a return on equity of 9.61% and a net margin of 2.91%.The company had revenue of $709.07 million during the quarter, compared to analyst estimates of $749.81 million. Research analysts forecast that PC Connection, Inc. will post 3.33 EPS for the current fiscal year.

PC Connection Dividend Announcement

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

Institutional Trading of PC Connection

A number of hedge funds and other institutional investors have recently made changes to their positions in CNXN. Vanguard Group Inc. lifted its holdings in PC Connection by 0.9% in the first quarter. Vanguard Group Inc. now owns 1,128,524 shares of the company’s stock valued at $70,442,000 after acquiring an additional 10,235 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PC Connection by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 252,870 shares of the company’s stock valued at $15,784,000 after purchasing an additional 1,149 shares during the period. Nuveen LLC acquired a new position in shares of PC Connection in the 1st quarter valued at $2,190,000. Public Sector Pension Investment Board lifted its stake in shares of PC Connection by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 39,153 shares of the company’s stock valued at $2,444,000 after purchasing an additional 8,402 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in shares of PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after purchasing an additional 966 shares during the period. 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.