PC Connection (NASDAQ:CNXN) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of PC Connection (NASDAQ:CNXN) from a buy rating to a strong-buy rating in a report issued on Thursday.

PC Connection Price Performance

NASDAQ:CNXN opened at $62.11 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 19.66, a PEG ratio of 1.77 and a beta of 0.66. PC Connection has a one year low of $37.76 and a one year high of $70.55. The company’s 50-day simple moving average is $65.52 and its 200 day simple moving average is $62.78.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. The firm had revenue of $696.47 million for the quarter, compared to analysts’ expectations of $673.51 million. On average, equities research analysts expect that PC Connection will post 3.5 earnings per share for the current fiscal year.

PC Connection Increases Dividend

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

Institutional Trading of PC Connection

Several institutional investors have recently bought and sold shares of CNXN. Coppell Advisory Solutions Corp. bought a new position in shares of PC Connection in the fourth quarter worth approximately $25,000. Point72 Middle East FZE bought a new position in PC Connection in the 4th quarter valued at approximately $28,000. Russell Investments Group Ltd. purchased a new stake in PC Connection during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC increased its holdings in shares of PC Connection by 62.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after purchasing an additional 290 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of PC Connection by 2,189.7% in the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after purchasing an additional 854 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

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.