PC Connection (NASDAQ:CNXN) Stock Crosses Above 200-Day Moving Average – Should You Sell?

PC Connection, Inc. (NASDAQ:CNXN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $60.67 and traded as high as $64.84. PC Connection shares last traded at $63.82, with a volume of 101,608 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CNXN shares. Zacks Research upgraded shares of PC Connection from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Weiss Ratings reissued 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, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

PC Connection Price Performance

The business’s 50-day moving average price is $59.70 and its two-hundred day moving average price is $60.65. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.05. PC Connection had a return on equity of 9.87% and a net margin of 2.91%.The company had revenue of $702.94 million during the quarter, compared to the consensus estimate of $735.49 million. As a group, sell-side analysts forecast that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. This is a boost from PC Connection’s previous quarterly dividend of $0.15. PC Connection’s dividend payout ratio is presently 18.35%.

Institutional Investors Weigh In On PC Connection

A number of institutional investors have recently added to or reduced their stakes in the company. Amundi purchased a new position in shares of PC Connection in the 1st quarter worth about $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after purchasing an additional 312 shares in the last quarter. Millennium Management LLC raised its holdings in PC Connection by 98.8% in the first quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after buying an additional 57,257 shares during the period. CWM LLC lifted its position in PC Connection by 158.2% during the second quarter. CWM LLC now owns 4,226 shares of the company’s stock valued at $278,000 after buying an additional 2,589 shares in the last quarter. Finally, Denali Advisors LLC grew its stake in PC Connection by 25.7% during the second quarter. Denali Advisors LLC now owns 66,631 shares of the company’s stock worth $4,383,000 after buying an additional 13,608 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.