PC Connection (NASDAQ:CNXN) Stock: Insider Matthew David Zafirovski Acquires 2,490 Shares

PC Connection, Inc. (NASDAQ:CNXN) COO Matthew David Zafirovski acquired 2,490 shares of the stock in a transaction that occurred on Monday, November 9th. The stock was purchased at an average price of $80.20 per share, for a total transaction of $199,698.00. Following the completion of the purchase, the chief operating officer directly owned 2,490 shares in the company, valued at $199,698. This trade represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

PC Connection Stock Up 1.6%

NASDAQ CNXN opened at $83.45 on Thursday. The company has a market cap of $2.11 billion, a PE ratio of 19.41, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $96.90. The firm’s 50-day simple moving average is $87.43 and its two-hundred day simple moving average is $73.34.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, October 28th. The company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.20. The firm had revenue of $874.31 million during the quarter, compared to analyst estimates of $773.74 million. PC Connection had a net margin of 3.25% and a return on equity of 11.38%. As a group, equities research analysts anticipate that PC Connection, Inc. will post 4.46 EPS for the current year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, November 10th. PC Connection’s dividend payout ratio is presently 19.75%.

Institutional Trading of PC Connection

Hedge funds and other institutional investors have recently made changes to their positions in the stock. USA Financial Formulas purchased a new stake in PC Connection during the 3rd quarter worth about $27,000. Hantz Financial Services Inc. grew its holdings in PC Connection by 40.8% during the 3rd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock valued at $49,000 after buying an additional 156 shares in the last quarter. Parallel Advisors LLC grew its holdings in PC Connection by 200.4% during the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 473 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in PC Connection during the 1st quarter valued at about $44,000. Finally, Signaturefd LLC increased its position in shares of PC Connection by 505.4% during the third quarter. Signaturefd LLC now owns 1,011 shares of the company’s stock valued at $91,000 after buying an additional 844 shares during the period. 42.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CNXN. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, PC Connection has an average rating of “Strong Buy”.

PC Connection Company Profile

PC Connection, Inc. is an information technology solutions provider that helps businesses, government agencies, educational institutions and other organizations select, acquire and manage technology. The company sells computers, software, networking equipment, peripherals and other IT products, alongside services such as technology deployment, configuration, logistics and support. Operating through the Connection brand and specialized channels including GovConnection, the company serves customers across the United States.