PC Connection, Inc. (NASDAQ:CNXN) Shares Will Pay Quarterly Dividend of $0.20

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Wednesday, October 28th. Stockholders of record on Tuesday, November 10th will be paid a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, November 10th.

PC Connection has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $4.47 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.

PC Connection Stock Down 2.3%

Shares of CNXN stock opened at $86.50 on Thursday. PC Connection has a 52 week low of $54.97 and a 52 week high of $96.90. The company has a market cap of $2.18 billion, a P/E ratio of 22.88, a PEG ratio of 2.12 and a beta of 0.81. The business has a 50 day moving average of $86.44 and a two-hundred day moving average of $72.05.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, October 28th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.04 by $0.20. The firm had revenue of $874.31 million for the quarter, compared to analysts’ expectations of $773.74 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. Analysts expect that PC Connection will post 4.18 EPS for the current fiscal year.

Insider Transactions at PC Connection

In other PC Connection news, Chairman Patricia Gallup sold 8,004 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $86.57, for a total transaction of $692,906.28. Following the sale, the chairman owned 6,906,383 shares in the company, valued at approximately $597,885,576.31. The trade was a 0.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David Beffa-Negrini sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $81.05, for a total transaction of $405,250.00. Following the completion of the sale, the director owned 60,875 shares of the company’s stock, valued at approximately $4,933,918.75. This trade represents a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 62,136 shares of company stock worth $5,312,310 in the last three months. 56.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of CNXN. Vise Technologies Inc. acquired a new position in shares of PC Connection during the third quarter worth approximately $237,000. Summit Global Investments bought a new stake in shares of PC Connection in the third quarter valued at approximately $306,000. State of Wyoming grew its stake in shares of PC Connection by 38.9% in the third quarter. State of Wyoming now owns 4,513 shares of the company’s stock worth $407,000 after acquiring an additional 1,263 shares during the last quarter. Signaturefd LLC grew its stake in shares of PC Connection by 505.4% in the third quarter. Signaturefd LLC now owns 1,011 shares of the company’s stock worth $91,000 after acquiring an additional 844 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in PC Connection during the third quarter worth $678,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Company Profile

PC Connection, Inc is an information technology solutions provider that supplies technology products, services and expertise to businesses, government agencies, educational institutions and other organizations. The company helps customers plan, acquire, deploy and manage IT environments across workplace, data center, networking, security and cloud infrastructure.

Its offerings include computers, servers, storage systems, networking equipment, software, peripherals and related technology accessories.