PC Connection (NASDAQ:CNXN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of PC Connection, Inc. (NASDAQ:CNXN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $60.69 and traded as high as $61.71. PC Connection shares last traded at $59.69, with a volume of 69,084 shares changing hands.

Analyst Upgrades and Downgrades

CNXN has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of PC Connection in a report on Monday, December 29th. Zacks Research raised shares of PC Connection from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of “Hold”.

PC Connection Stock Performance

The company has a market capitalization of $1.51 billion, a P/E ratio of 18.25, a P/E/G ratio of 1.64 and a beta of 0.83. The company has a 50-day simple moving average of $59.96 and a 200 day simple moving average of $60.69.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. PC Connection had a return on equity of 9.87% and a net margin of 2.91%.The company had revenue of $702.94 million during the quarter, compared to analysts’ expectations of $735.49 million. As a group, sell-side analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Shareholders of record on Tuesday, February 17th will be given a $0.20 dividend. The ex-dividend date is Tuesday, February 17th. This represents a $0.80 annualized dividend and a yield of 1.3%. This is a positive change from PC Connection’s previous quarterly dividend of $0.15. PC Connection’s dividend payout ratio (DPR) is 24.46%.

Institutional Investors Weigh In On PC Connection

Several hedge funds have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its position in PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of PC Connection by 196.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock worth $39,000 after acquiring an additional 417 shares during the period. Quarry LP acquired a new stake in shares of PC Connection during the 3rd quarter worth approximately $75,000. Russell Investments Group Ltd. increased its position in shares of PC Connection by 194.0% during the third quarter. Russell Investments Group Ltd. now owns 1,411 shares of the company’s stock valued at $87,000 after purchasing an additional 931 shares during the period. Finally, Tower Research Capital LLC TRC increased its position in shares of PC Connection by 535.3% during the second quarter. Tower Research Capital LLC TRC now owns 1,601 shares of the company’s stock valued at $105,000 after purchasing an additional 1,349 shares during the period. Institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.