PC Connection, Inc. (CNXN) to Issue Quarterly Dividend of $0.20 on November 27th

PC Connection, Inc. (NASDAQ:CNXN) declared a quarterly dividend on Tuesday, October 27th. Investors of record on Tuesday, November 10th will be given a dividend of $0.20 per share on Friday, November 27th. This represents a $0.80 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 10th.

PC Connection has a dividend payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PC Connection to earn $4.78 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 16.7%.

PC Connection Stock Performance

NASDAQ CNXN opened at $79.15 on Friday. PC Connection has a 52-week low of $54.97 and a 52-week high of $96.90. The company has a 50-day simple moving average of $87.31 and a 200 day simple moving average of $72.98. The company has a market capitalization of $2.00 billion, a PE ratio of 19.54, a price-to-earnings-growth ratio of 1.77 and a beta of 0.83.

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 analysts’ consensus estimates of $1.04 by $0.20. The firm had revenue of $874.31 million for 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%. As a group, analysts forecast that PC Connection will post 4.46 EPS for the current fiscal year.

Insider Activity

In related news, Director David Beffa-Negrini sold 5,000 shares of the business’s stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $81.05, for a total value of $405,250.00. Following the sale, the director directly owned 60,875 shares in the company, valued at approximately $4,933,918.75. The trade was a 7.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $87.48, for a total transaction of $624,782.16. Following the sale, the chairman directly owned 6,892,049 shares in the company, valued at approximately $602,916,446.52. This trade represents a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 62,136 shares of company stock valued at $5,320,452. 56.60% of the stock is currently owned by insiders.

Institutional Trading of PC Connection

Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. bought a new position in shares of PC Connection in the second quarter valued at approximately $158,833,000. Bank of New York Mellon Corp bought a new stake in PC Connection during the 2nd quarter worth approximately $9,982,000. Man Group plc bought a new stake in PC Connection during the 2nd quarter worth approximately $6,925,000. PDT Partners LLC bought a new stake in PC Connection during the 2nd quarter worth approximately $3,557,000. Finally, Bank of America Corp DE purchased a new stake in PC Connection in the 2nd quarter worth approximately $3,080,000. Institutional investors own 42.85% of the company’s stock.

About PC Connection

PC Connection, Inc is an information technology solutions provider that supplies technology products, services and expertise to businesses, government agencies, educational institutions and other organizations. The company helps customers plan, acquire, deploy and manage IT environments across workplace, data center, networking, security and cloud infrastructure.

Its offerings include computers, servers, storage systems, networking equipment, software, peripherals and related technology accessories.