PC Connection (NASDAQ:CNXN) Sets New 52-Week High – Should You Buy?

PC Connection, Inc. (NASDAQ:CNXN) shares reached a new 52-week high on Monday . The stock traded as high as $74.11 and last traded at $72.6820, with a volume of 1790 shares traded. The stock had previously closed at $72.15.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

PC Connection Stock Performance

The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 1.84 and a beta of 0.88. The firm’s 50-day simple moving average is $64.36 and its two-hundred day simple moving average is $61.26.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.15. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The company had revenue of $721.87 million for the quarter, compared to analyst estimates of $696.09 million. Equities research analysts expect that PC Connection, Inc. will post 3.93 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.80 annualized dividend and a yield of 1.1%. PC Connection’s dividend payout ratio is currently 23.26%.

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in PC Connection by 63.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,021 shares of the company’s stock worth $2,853,000 after purchasing an additional 17,808 shares during the last quarter. Denali Advisors LLC boosted its stake in shares of PC Connection by 30.4% in the 3rd quarter. Denali Advisors LLC now owns 86,900 shares of the company’s stock valued at $5,387,000 after purchasing an additional 20,269 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in shares of PC Connection by 12.0% in the 4th quarter. Teacher Retirement System of Texas now owns 114,768 shares of the company’s stock valued at $6,629,000 after purchasing an additional 12,275 shares during the last quarter. SG Americas Securities LLC grew its position in shares of PC Connection by 88.1% during the 4th quarter. SG Americas Securities LLC now owns 28,495 shares of the company’s stock worth $1,646,000 after buying an additional 13,343 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of PC Connection by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after buying an additional 10,218 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.