PC Connection (NASDAQ:CNXN) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

PC Connection, Inc. (NASDAQ:CNXN)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $60.77 and traded as high as $70.01. PC Connection shares last traded at $69.59, with a volume of 144,509 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, PC Connection has a consensus rating of “Hold”.

PC Connection Stock Performance

The stock has a market cap of $1.76 billion, a P/E ratio of 20.23, a P/E/G ratio of 1.77 and a beta of 0.86. The stock’s fifty day simple moving average is $62.98 and its 200-day simple moving average is $60.77.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The firm had revenue of $721.87 million during the quarter, compared to the consensus estimate of $696.09 million. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. As a group, equities research analysts forecast that PC Connection, Inc. will post 3.93 earnings per share for the current year.

PC Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. PC Connection’s payout ratio is currently 23.26%.

Institutional Trading of PC Connection

A number of institutional investors have recently bought and sold shares of the business. Amundi bought a new stake in PC Connection in the 1st quarter valued at about $206,000. Quantinno Capital Management LP boosted its holdings in PC Connection by 137.8% in the 1st quarter. Quantinno Capital Management LP now owns 17,166 shares of the company’s stock valued at $1,004,000 after purchasing an additional 9,947 shares during the period. Aristides Capital LLC bought a new stake in shares of PC Connection during the 1st quarter worth approximately $220,000. Inceptionr LLC bought a new stake in shares of PC Connection during the 1st quarter worth approximately $320,000. Finally, Sei Investments Co. lifted its holdings in shares of PC Connection by 150.2% during the 1st quarter. Sei Investments Co. now owns 27,384 shares of the company’s stock worth $1,601,000 after acquiring an additional 16,441 shares during the period. Institutional investors own 42.85% of the company’s stock.

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.