PC Connection (NASDAQ:CNXN) Cut to “Buy” at StockNews.com

StockNews.com cut shares of PC Connection (NASDAQ:CNXN) from a strong-buy rating to a buy rating in a report issued on Friday morning.

PC Connection Trading Up 0.1%

Shares of NASDAQ CNXN opened at $69.13 on Friday. The business has a fifty day simple moving average of $62.40 and a 200 day simple moving average of $67.30. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.96 and a beta of 0.67. PC Connection has a one year low of $56.82 and a one year high of $77.19.

PC Connection (NASDAQ:CNXN) last issued its earnings results on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.18. The business had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. On average, research analysts anticipate that PC Connection will post 3.33 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Tuesday, May 13th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. PC Connection’s payout ratio is 18.18%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of PC Connection by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 1,118,289 shares of the company’s stock valued at $77,464,000 after purchasing an additional 8,723 shares in the last quarter. Barclays PLC grew its position in PC Connection by 178.7% in the third quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after acquiring an additional 23,084 shares during the period. Magnetar Financial LLC bought a new stake in PC Connection in the fourth quarter valued at $448,000. JPMorgan Chase & Co. grew its position in PC Connection by 59.3% in the third quarter. JPMorgan Chase & Co. now owns 33,870 shares of the company’s stock valued at $2,555,000 after acquiring an additional 12,608 shares during the period. Finally, KLP Kapitalforvaltning AS bought a new stake in PC Connection in the fourth quarter valued at $436,000. 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.