PC Connection, Inc. (NASDAQ:CNXN) Short Interest Update

PC Connection, Inc. (NASDAQ:CNXN) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 251,200 shares, a decrease of 38.6% from the March 15th total of 409,000 shares. Based on an average daily volume of 127,300 shares, the days-to-cover ratio is currently 2.0 days. Currently, 2.5% of the shares of the stock are sold short.

Institutional Trading of PC Connection

Institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of PC Connection by 26,952.8% in the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company’s stock valued at $8,443,000 after buying an additional 134,764 shares in the last quarter. State Street Corp grew its stake in PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after acquiring an additional 34,248 shares during the last quarter. Lazard Asset Management LLC increased its holdings in PC Connection by 131.3% during the 4th quarter. Lazard Asset Management LLC now owns 41,687 shares of the company’s stock valued at $2,887,000 after acquiring an additional 23,667 shares in the last quarter. Teacher Retirement System of Texas raised its position in PC Connection by 25.6% during the fourth quarter. Teacher Retirement System of Texas now owns 115,111 shares of the company’s stock worth $7,974,000 after acquiring an additional 23,497 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after acquiring an additional 23,358 shares during the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

PC Connection Trading Up 0.0 %

Shares of CNXN traded up $0.02 during trading hours on Friday, reaching $60.09. The company had a trading volume of 77,748 shares, compared to its average volume of 94,966. PC Connection has a 12-month low of $56.82 and a 12-month high of $77.19. The firm has a 50 day simple moving average of $62.54 and a 200-day simple moving average of $68.37. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 18.26, a PEG ratio of 1.96 and a beta of 0.69.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, February 5th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12). PC Connection had a net margin of 3.11% and a return on equity of 9.74%. During the same quarter in the previous year, the firm earned $0.90 earnings per share. Sell-side analysts forecast that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, February 25th were issued a dividend of $0.15 per share. The ex-dividend date was Tuesday, February 25th. This is a boost from PC Connection’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 1.00%. PC Connection’s payout ratio is currently 18.24%.

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.