PC Connection (NASDAQ:CNXN) Share Price Passes Above 200 Day Moving Average of $62.79

PC Connection, Inc. (NASDAQ:CNXN)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $62.79 and traded as high as $62.99. PC Connection shares last traded at $62.30, with a volume of 34,603 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Saturday, April 6th.

PC Connection Stock Performance

The stock has a market cap of $1.64 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.82 and a beta of 0.66. The company’s 50 day simple moving average is $65.65 and its 200 day simple moving average is $62.79.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The firm had revenue of $696.47 million during the quarter, compared to analyst estimates of $673.51 million. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. Equities research analysts expect that PC Connection, Inc. will post 3.5 earnings per share for the current year.

PC Connection Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 27th were paid a $0.10 dividend. This is a positive change from PC Connection’s previous quarterly dividend of $0.08. The ex-dividend date of this dividend was Monday, February 26th. This represents a $0.40 annualized dividend and a yield of 0.64%. PC Connection’s dividend payout ratio (DPR) is 12.66%.

Institutional Investors Weigh In On PC Connection

Several large investors have recently modified their holdings of CNXN. Bank of New York Mellon Corp increased its stake in shares of PC Connection by 0.4% during the 1st quarter. Bank of New York Mellon Corp now owns 146,379 shares of the company’s stock worth $7,669,000 after purchasing an additional 587 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of PC Connection during the 1st quarter worth approximately $242,000. Citigroup Inc. increased its stake in shares of PC Connection by 11.7% during the 1st quarter. Citigroup Inc. now owns 9,570 shares of the company’s stock worth $501,000 after purchasing an additional 1,006 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of PC Connection during the 1st quarter worth approximately $172,000. Finally, MetLife Investment Management LLC increased its stake in shares of PC Connection by 64.0% during the 1st quarter. MetLife Investment Management LLC now owns 5,816 shares of the company’s stock worth $305,000 after purchasing an additional 2,269 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.