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

PC Connection, Inc. (NASDAQ:CNXN)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $70.77 and traded as high as $71.65. PC Connection shares last traded at $71.21, with a volume of 71,275 shares changing hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

PC Connection Stock Up 0.6 %

The business has a 50 day moving average of $71.40 and a 200 day moving average of $70.77. The company has a market capitalization of $1.87 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 1.89 and a beta of 0.67.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, November 12th. PC Connection’s payout ratio is 11.73%.

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was 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 in the company, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 56.90% of the company’s stock.

Hedge Funds Weigh In On PC Connection

Institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. raised its position in PC Connection by 27.5% during the third quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after acquiring an additional 10,314 shares during the period. GSA Capital Partners LLP purchased a new position in shares of PC Connection during the 3rd quarter worth $591,000. Geode Capital Management LLC raised its holdings in shares of PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after buying an additional 23,358 shares during the period. Millennium Management LLC boosted its position in PC Connection by 108.0% in the 2nd quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock valued at $4,158,000 after buying an additional 33,626 shares during the period. Finally, Magnetar Financial LLC purchased a new position in shares of PC Connection in the 2nd quarter valued at about $646,000. 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.