PC Connection (NASDAQ:CNXN) Stock Crosses Above Two Hundred Day Moving Average - Here's What Happened

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $65.89 and traded as high as $67.90. PC Connection shares last traded at $67.28, with a volume of 25,627 shares traded.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of PC Connection from a "strong-buy" rating to a "buy" rating in a research report on Friday, May 9th.

PC Connection Stock Up 0.5%

The business's fifty day moving average price is $66.17 and its 200 day moving average price is $65.89. The firm has a market capitalization of $1.71 billion, a PE ratio of 20.39, a PEG ratio of 1.93 and a beta of 0.69.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.18. PC Connection had a net margin of 3.04% and a return on equity of 9.95%. The business had revenue of $701.05 million during the quarter, compared to analysts' expectations of $646.37 million. On average, analysts anticipate that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Tuesday, May 13th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.89%. PC Connection's payout ratio is 18.18%.

Insider Transactions at PC Connection

In other news, CEO Timothy J. Mcgrath sold 5,440 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the transaction, the chief executive officer directly owned 260,387 shares in the company, valued at $17,458,948.35. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jack L. Ferguson sold 1,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the transaction, the director owned 66,055 shares in the company, valued at approximately $4,380,767.60. This trade represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,005 shares of company stock valued at $2,205,614 over the last ninety days. Corporate insiders own 55.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Nuveen Asset Management LLC increased its stake in shares of PC Connection by 12.7% during the fourth quarter. Nuveen Asset Management LLC now owns 113,261 shares of the company's stock worth $7,846,000 after acquiring an additional 12,795 shares during the period. SG Americas Securities LLC acquired a new position in PC Connection during the first quarter worth about $339,000. Vanguard Group Inc. grew its position in PC Connection by 0.8% during 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 during the period. GAMMA Investing LLC grew its position in PC Connection by 26,952.8% during the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock worth $8,443,000 after buying an additional 134,764 shares during the period. Finally, Rhumbline Advisers grew its position in PC Connection by 17.3% during the first quarter. Rhumbline Advisers now owns 100,200 shares of the company's stock worth $6,254,000 after buying an additional 14,768 shares during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.

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