Zacks Investment Research downgraded shares of PC Connection (NASDAQ:CNXN) from a hold rating to a sell rating in a report released on Monday morning.

According to Zacks, “PC Connection, Inc. is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. “

Several other analysts have also weighed in on the stock. BidaskClub lowered shares of PC Connection from a sell rating to a strong sell rating in a report on Thursday, January 25th. ValuEngine lowered shares of PC Connection from a buy rating to a hold rating in a report on Sunday, December 31st.

Shares of PC Connection (CNXN) opened at $24.76 on Monday. The firm has a market cap of $674.41, a P/E ratio of 13.74, a PEG ratio of 1.49 and a beta of 1.52. PC Connection has a fifty-two week low of $22.66 and a fifty-two week high of $30.48.

The business also recently declared a special dividend, which was paid on Friday, January 12th. Investors of record on Friday, December 29th were issued a $0.34 dividend. The ex-dividend date was Thursday, December 28th.

In related news, Director Barbara Duckett sold 1,123 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $27.56, for a total value of $30,949.88. Following the completion of the sale, the director now owns 15,877 shares of the company’s stock, valued at $437,570.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Mcgrath sold 9,700 shares of PC Connection stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.85, for a total transaction of $260,445.00. Following the sale, the chief executive officer now directly owns 207,207 shares of the company’s stock, valued at approximately $5,563,507.95. The disclosure for this sale can be found here. In the last three months, insiders sold 16,628 shares of company stock valued at $447,259. 57.30% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fenimore Asset Management Inc. grew its holdings in PC Connection by 0.7% during the 4th quarter. Fenimore Asset Management Inc. now owns 321,345 shares of the company’s stock worth $8,422,000 after acquiring an additional 2,370 shares during the period. California Public Employees Retirement System grew its holdings in PC Connection by 60.4% during the 4th quarter. California Public Employees Retirement System now owns 15,623 shares of the company’s stock worth $409,000 after acquiring an additional 5,884 shares during the period. First National Bank of Omaha grew its holdings in PC Connection by 18.0% during the 4th quarter. First National Bank of Omaha now owns 35,075 shares of the company’s stock worth $919,000 after acquiring an additional 5,350 shares during the period. Aperio Group LLC grew its holdings in PC Connection by 29.6% during the 4th quarter. Aperio Group LLC now owns 12,725 shares of the company’s stock worth $334,000 after acquiring an additional 2,909 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in PC Connection by 20.6% during the 3rd quarter. GSA Capital Partners LLP now owns 25,914 shares of the company’s stock worth $731,000 after acquiring an additional 4,418 shares during the period. 40.90% of the stock is owned by hedge funds and other institutional investors.

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About PC Connection

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

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