StockNews.com cut shares of PC Connection (NASDAQ:CNXN - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Friday.
PC Connection Stock Up 1.2%
Shares of PC Connection stock traded up $0.87 during trading on Friday, reaching $70.73. The company's stock had a trading volume of 60,349 shares, compared to its average volume of 97,020. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.96 and a beta of 0.67. The firm's 50-day moving average is $62.51 and its two-hundred day moving average is $67.31. PC Connection has a 52-week low of $56.82 and a 52-week high of $77.19.
PC Connection (NASDAQ:CNXN - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 9.74% and a net margin of 3.11%. On average, equities research analysts anticipate that PC Connection will post 3.33 EPS for the current year.
PC Connection Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Tuesday, May 13th. PC Connection's payout ratio is currently 18.18%.
Institutional Trading of PC Connection
A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of PC Connection by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company's stock worth $77,464,000 after buying an additional 8,723 shares in the last quarter. Barclays PLC grew its stake in shares of PC Connection by 178.7% during the third quarter. Barclays PLC now owns 36,002 shares of the company's stock valued at $2,717,000 after buying an additional 23,084 shares during the last quarter. Magnetar Financial LLC bought a new stake in PC Connection during the 4th quarter valued at $448,000. JPMorgan Chase & Co. boosted its position in PC Connection by 59.3% during the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company's stock valued at $2,555,000 after purchasing an additional 12,608 shares in the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in PC Connection during the 4th quarter worth $436,000. Institutional investors own 42.85% of the company's stock.
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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