PC Connection (NASDAQ:CNXN) Sets New 1-Year High – Should You Buy?

Shares of PC Connection, Inc. (NASDAQ:CNXN) reached a new 52-week high on Monday . The stock traded as high as $74.11 and last traded at $72.6820, with a volume of 1790 shares traded. The stock had previously closed at $72.15.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNXN shares. Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, PC Connection currently has a consensus rating of “Moderate Buy”.

PC Connection Trading Up 2.1%

The firm has a fifty day moving average of $64.95 and a two-hundred day moving average of $61.49. The company has a market capitalization of $1.85 billion, a PE ratio of 21.30, a PEG ratio of 1.83 and a beta of 0.88.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.15. PC Connection had a return on equity of 10.17% and a net margin of 3.02%.The firm had revenue of $721.87 million during the quarter, compared to the consensus estimate of $696.09 million. On average, equities analysts expect that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th were given a $0.20 dividend. The ex-dividend date was Tuesday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. PC Connection’s payout ratio is presently 23.26%.

Institutional Investors Weigh In On PC Connection

Several institutional investors and hedge funds have recently bought and sold shares of CNXN. Martingale Asset Management L P increased its stake in shares of PC Connection by 1.3% during the fourth quarter. Martingale Asset Management L P now owns 19,137 shares of the company’s stock valued at $1,105,000 after buying an additional 252 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PC Connection by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after acquiring an additional 312 shares during the period. Franklin Resources Inc. lifted its position in PC Connection by 8.2% during the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock valued at $286,000 after acquiring an additional 348 shares during the period. WINTON GROUP Ltd boosted its holdings in shares of PC Connection by 6.7% in the fourth quarter. WINTON GROUP Ltd now owns 6,257 shares of the company’s stock worth $361,000 after buying an additional 394 shares during the last quarter. Finally, Swiss National Bank grew its position in PC Connection by 1.8% during the fourth quarter. Swiss National Bank now owns 22,500 shares of the company’s stock valued at $1,300,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

About PC Connection

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.