PC Connection (NASDAQ:CNXN) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.67 and traded as high as $64.84. PC Connection shares last traded at $63.82, with a volume of 101,608 shares.

Wall Street Analysts Forecast Growth

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

PC Connection Price Performance

The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of 19.52, a P/E/G ratio of 1.69 and a beta of 0.83. The business’s 50-day moving average price is $59.70 and its two-hundred day moving average price is $60.67.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The firm had revenue of $702.94 million for the quarter, compared to analyst estimates of $735.49 million. PC Connection had a return on equity of 9.87% and a net margin of 2.91%. As a group, research analysts predict that PC Connection, Inc. will post 3.33 EPS for the current year.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. This is a boost from PC Connection’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Tuesday, February 17th. PC Connection’s payout ratio is presently 18.35%.

Hedge Funds Weigh In On PC Connection

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of PC Connection by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after acquiring an additional 10,218 shares during the period. Geode Capital Management LLC lifted its stake in PC Connection by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock worth $21,777,000 after purchasing an additional 2,945 shares during the last quarter. Brown Advisory Inc. boosted its holdings in shares of PC Connection by 65.3% in the 2nd quarter. Brown Advisory Inc. now owns 220,821 shares of the company’s stock valued at $14,526,000 after purchasing an additional 87,224 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of PC Connection by 2.4% in the 2nd quarter. Invesco Ltd. now owns 179,487 shares of the company’s stock valued at $11,807,000 after purchasing an additional 4,146 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of PC Connection by 71.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock valued at $10,264,000 after purchasing an additional 68,906 shares during the last quarter. 42.85% of the stock is owned by institutional investors.

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.