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

PC Connection, Inc. (NASDAQ:CNXN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $70.77 and traded as high as $71.65. PC Connection shares last traded at $71.21, with a volume of 71,275 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th.

PC Connection Trading Up 0.6 %

The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 1.89 and a beta of 0.67. The stock’s 50 day moving average is $71.40 and its two-hundred day moving average is $70.77.

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Tuesday, November 12th. PC Connection’s payout ratio is currently 11.73%.

Insider Buying and Selling

In other news, Director Negrini David Beffa sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director now directly owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 56.90% of the company’s stock.

Institutional Investors Weigh In On PC Connection

A number of hedge funds and other institutional investors have recently modified their holdings of CNXN. Victory Capital Management Inc. boosted its position in shares of PC Connection by 27.5% in the 3rd quarter. Victory Capital Management Inc. now owns 47,772 shares of the company’s stock worth $3,603,000 after buying an additional 10,314 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of PC Connection during the 3rd quarter worth approximately $591,000. Geode Capital Management LLC increased its position in PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares in the last quarter. Millennium Management LLC lifted its position in shares of PC Connection by 108.0% in the second quarter. Millennium Management LLC now owns 64,774 shares of the company’s stock valued at $4,158,000 after acquiring an additional 33,626 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in shares of PC Connection during the second quarter valued at $646,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

About PC Connection

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.