PC Connection, Inc. (NASDAQ:CNXN) Sees Significant Growth in Short Interest

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totalling 342,600 shares, an increase of 36.4% from the March 31st total of 251,200 shares. Based on an average trading volume of 134,100 shares, the days-to-cover ratio is currently 2.6 days. Approximately 3.5% of the company's shares are sold short.

Analysts Set New Price Targets

Separately, StockNews.com upgraded PC Connection from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 1st.

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently made changes to their positions in CNXN. Vanguard Group Inc. grew its stake in shares of PC Connection by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company's stock worth $77,464,000 after acquiring an additional 8,723 shares in the last quarter. Geode Capital Management LLC boosted its holdings in PC Connection by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 354,459 shares of the company's stock worth $24,558,000 after purchasing an additional 8,329 shares during the last quarter. American Century Companies Inc. grew its position in PC Connection by 1.0% in the 4th quarter. American Century Companies Inc. now owns 297,833 shares of the company's stock worth $20,631,000 after purchasing an additional 2,965 shares in the last quarter. Invesco Ltd. increased its stake in PC Connection by 8.2% in the 4th quarter. Invesco Ltd. now owns 268,455 shares of the company's stock valued at $18,596,000 after buying an additional 20,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PC Connection by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 251,721 shares of the company's stock worth $17,437,000 after buying an additional 6,903 shares in the last quarter. 42.85% of the stock is owned by institutional investors.

PC Connection Price Performance

Shares of PC Connection stock traded down $0.13 on Tuesday, hitting $68.29. 19,676 shares of the company's stock traded hands, compared to its average volume of 96,570. The company has a fifty day moving average of $61.98 and a two-hundred day moving average of $67.38. PC Connection has a one year low of $56.82 and a one year high of $77.19. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. PC Connection had a net margin of 3.11% and a return on equity of 9.74%. Equities research analysts anticipate that PC Connection will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. PC Connection's dividend payout ratio (DPR) is presently 18.18%.

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.