PC Connection, Inc. (NASDAQ:CNXN) Sees Significant Decline in Short Interest

PC Connection, Inc. (NASDAQ:CNXN) saw a large drop in short interest in the month of February. As of February 13th, there was short interest totaling 320,005 shares, a drop of 15.4% from the January 29th total of 378,137 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average trading volume of 136,014 shares, the short-interest ratio is presently 2.4 days. Based on an average trading volume of 136,014 shares, the short-interest ratio is presently 2.4 days. Currently, 2.8% of the shares of the stock are sold short.

Analyst Ratings Changes

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

Hedge Funds Weigh In On PC Connection

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its holdings in shares of PC Connection by 22.1% during the fourth 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. Vident Advisory LLC lifted its position in PC Connection by 10.1% during the 4th quarter. Vident Advisory LLC now owns 9,782 shares of the company’s stock worth $565,000 after buying an additional 901 shares in the last quarter. Verdad Advisers LP bought a new stake in PC Connection during the 4th quarter worth about $473,000. Numerai GP LLC acquired a new stake in PC Connection in the 4th quarter valued at about $1,692,000. Finally, Guggenheim Capital LLC acquired a new stake in PC Connection in the 4th quarter valued at about $254,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Stock Down 0.5%

Shares of PC Connection stock opened at $61.68 on Friday. PC Connection has a 12-month low of $54.97 and a 12-month high of $71.17. The stock has a market capitalization of $1.55 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 1.63 and a beta of 0.83. The company has a 50-day simple moving average of $60.15 and a 200 day simple moving average of $60.64.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, February 4th. The company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.05. PC Connection had a net margin of 2.91% and a return on equity of 9.87%. The firm had revenue of $702.94 million for the quarter, compared to analysts’ expectations of $735.49 million. On average, equities analysts anticipate that PC Connection will post 3.33 earnings per share 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 dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.80 dividend on an annualized basis and a yield of 1.3%. This is a positive change from PC Connection’s previous quarterly dividend of $0.15. PC Connection’s payout ratio is 24.46%.

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.