PC Connection, Inc. (NASDAQ:CNXN) Sees Significant Decline in Short Interest

PC Connection, Inc. (NASDAQ:CNXN) saw a significant decline in short interest in the month of February. As of February 13th, there was short interest totaling 320,005 shares, a decline of 15.4% from the January 29th total of 378,137 shares. Based on an average daily trading volume, of 136,014 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.8% of the company’s shares are sold short. Currently, 2.8% of the company’s shares are sold short. Based on an average daily trading volume, of 136,014 shares, the days-to-cover ratio is currently 2.4 days.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PC Connection in a research report on Monday, December 29th. Zacks Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Trading of PC Connection

Several institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. grew its holdings in PC Connection by 22.1% during the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock worth $12,662,000 after acquiring an additional 39,716 shares in the last quarter. Vident Advisory LLC lifted its position in shares of PC Connection by 10.1% during the fourth quarter. Vident Advisory LLC now owns 9,782 shares of the company’s stock worth $565,000 after purchasing an additional 901 shares during the last quarter. Verdad Advisers LP acquired a new position in PC Connection in the fourth quarter worth about $473,000. Numerai GP LLC acquired a new position in PC Connection in the fourth quarter worth about $1,692,000. Finally, Guggenheim Capital LLC bought a new stake in PC Connection in the fourth quarter valued at about $254,000. 42.85% of the stock is owned by institutional investors and hedge funds.

PC Connection Stock Up 0.6%

Shares of PC Connection stock traded up $0.34 during trading hours on Wednesday, hitting $61.34. 9,958 shares of the company’s stock traded hands, compared to its average volume of 85,498. PC Connection has a twelve month low of $54.97 and a twelve month high of $71.17. The company has a market cap of $1.55 billion, a PE ratio of 18.76, a PEG ratio of 1.61 and a beta of 0.83. The stock has a 50 day simple moving average of $60.06 and a 200-day simple moving average of $60.62.

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

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Tuesday, February 17th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, February 17th. This is an increase from PC Connection’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. PC Connection’s dividend payout ratio is 24.46%.

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.