Insider Buying: PC Connection (NASDAQ:CNXN) COO Buys $199,698.00 in Stock

PC Connection, Inc. (NASDAQ:CNXN) COO Matthew David Zafirovski purchased 2,490 shares of the stock in a transaction on Monday, November 9th. The shares were bought at an average cost of $80.20 per share, for a total transaction of $199,698.00. Following the transaction, the chief operating officer directly owned 2,490 shares in the company, valued at approximately $199,698. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

PC Connection Trading Up 2.5%

Shares of PC Connection stock traded up $2.01 on Tuesday, reaching $82.10. 129,916 shares of the company were exchanged, compared to its average volume of 123,076. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.97 and a beta of 0.83. PC Connection, Inc. has a one year low of $54.97 and a one year high of $96.90. The company has a 50-day moving average of $87.32 and a 200 day moving average of $73.09.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, October 28th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.20. The business had revenue of $874.31 million during the quarter, compared to analysts’ expectations of $773.74 million. PC Connection had a net margin of 3.25% and a return on equity of 11.38%. Analysts predict that PC Connection, Inc. will post 4.46 earnings per share for the current year.

PC Connection Announces Dividend

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new stake in PC Connection in the 2nd quarter valued at $158,833,000. Bank of New York Mellon Corp acquired a new position in PC Connection in the 2nd quarter valued at $9,982,000. Man Group plc bought a new position in PC Connection during the 2nd quarter worth $6,925,000. PDT Partners LLC bought a new position in PC Connection during the 2nd quarter worth $3,557,000. Finally, Bank of America Corp DE bought a new position in PC Connection during the 2nd quarter worth $3,080,000. 42.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CNXN has been the subject of a number of analyst reports. Weiss Ratings raised shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, the stock currently 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.