StockNews.com upgraded shares of PC Connection (NASDAQ:CNXN - Free Report) from a buy rating to a strong-buy rating in a report published on Thursday morning.
PC Connection Stock Up 0.5 %
Shares of CNXN stock traded up $0.29 during mid-day trading on Thursday, reaching $62.11. 49,082 shares of the stock traded hands, compared to its average volume of 71,468. The stock's fifty day simple moving average is $65.60 and its two-hundred day simple moving average is $62.78. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 19.63, a price-to-earnings-growth ratio of 1.78 and a beta of 0.66. PC Connection has a 1-year low of $37.76 and a 1-year high of $70.55.
PC Connection (NASDAQ:CNXN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.02. The company had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. On average, equities research analysts anticipate that PC Connection will post 3.5 EPS for the current fiscal year.
PC Connection Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were issued a $0.10 dividend. This is an increase from PC Connection's previous quarterly dividend of $0.08. This represents a $0.40 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Monday, February 26th. PC Connection's payout ratio is presently 12.66%.
Institutional Investors Weigh In On PC Connection
Hedge funds have recently added to or reduced their stakes in the business. Coppell Advisory Solutions Corp. bought a new stake in PC Connection in the fourth quarter worth approximately $25,000. Point72 Middle East FZE bought a new stake in shares of PC Connection during the fourth quarter valued at approximately $28,000. Russell Investments Group Ltd. bought a new stake in shares of PC Connection during the first quarter valued at approximately $28,000. Tower Research Capital LLC TRC increased its holdings in shares of PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company's stock valued at $35,000 after acquiring an additional 290 shares in the last quarter. Finally, Covestor Ltd grew its holdings in PC Connection by 2,189.7% during the first quarter. Covestor Ltd now owns 893 shares of the company's stock worth $47,000 after buying an additional 854 shares in the last quarter. 42.85% of the stock is currently owned by institutional investors.
PC Connection Company Profile
(
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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.
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