PC Connection (NASDAQ:CNXN) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $60.62 and traded as high as $61.20. PC Connection shares last traded at $61.00, with a volume of 75,588 shares traded.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNXN. Weiss Ratings reissued a “hold (c)” rating on shares of PC Connection in a research note on Monday, December 29th. Zacks Research raised shares of PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

PC Connection Trading Down 0.2%

The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 1.61 and a beta of 0.83. The firm has a 50-day moving average of $60.06 and a 200 day moving average of $60.62.

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

PC Connection Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Tuesday, February 17th will be issued a $0.20 dividend. This is an increase from PC Connection’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, February 17th. PC Connection’s dividend payout ratio (DPR) is currently 24.46%.

Hedge Funds Weigh In On PC Connection

Institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of PC Connection by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after buying an additional 10,218 shares during the last quarter. Geode Capital Management LLC boosted its stake in PC Connection by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock valued at $21,777,000 after acquiring an additional 2,945 shares during the last quarter. Brown Advisory Inc. grew its holdings in PC Connection by 65.3% during the 2nd quarter. Brown Advisory Inc. now owns 220,821 shares of the company’s stock worth $14,526,000 after acquiring an additional 87,224 shares in the last quarter. Invesco Ltd. increased its position in shares of PC Connection by 22.1% in the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock worth $12,662,000 after purchasing an additional 39,716 shares during the last quarter. Finally, Qube Research & Technologies Ltd raised 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 in the last quarter. 42.85% of the stock is owned by institutional investors and hedge funds.

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.