PC Connection (NASDAQ:CNXN) Sees Large Volume Increase – Time to Buy?

PC Connection, Inc. (NASDAQ:CNXN) shares saw unusually-high trading volume on Monday . Approximately 93,300 shares were traded during 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.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reissued 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 research report on Friday, October 31st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

PC Connection Price Performance

The company has a market capitalization of $1.50 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.77 and a beta of 0.81. The stock’s 50 day simple moving average is $59.46 and its 200-day simple moving average is $62.45.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.04). PC Connection had a net margin of 2.91% and a return on equity of 9.61%. The business had revenue of $709.07 million during the quarter, compared to analysts’ expectations of $749.81 million. On average, equities analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Tuesday, November 11th were given 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 dividend yield of 1.0%. PC Connection’s dividend payout ratio is currently 18.58%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC increased its holdings in PC Connection by 74.3% during the 2nd quarter. Parallel Advisors LLC now owns 448 shares of the company’s stock worth $29,000 after purchasing an additional 191 shares during the period. Vident Advisory LLC grew its position in shares of PC Connection by 3.2% during the first quarter. Vident Advisory LLC now owns 7,157 shares of the company’s stock worth $447,000 after buying an additional 223 shares in the last quarter. Prudential Financial Inc. raised its holdings in PC Connection by 0.9% in the second quarter. Prudential Financial Inc. now owns 31,255 shares of the company’s stock valued at $2,189,000 after acquiring an additional 264 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in PC Connection by 3.9% in the second quarter. State of Alaska Department of Revenue now owns 7,113 shares of the company’s stock valued at $467,000 after acquiring an additional 266 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PC Connection by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after acquiring an additional 312 shares during the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

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.