PC Connection (NASDAQ:CNXN) COO Matthew David Zafirovski Acquires 2,490 Shares of Company Stock

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

PC Connection Price Performance

Shares of PC Connection stock traded up $2.01 on Tuesday, hitting $82.10. The company had a trading volume of 129,916 shares, compared to its average volume of 123,076. The stock has a 50-day moving average of $87.32 and a 200-day moving average of $73.09. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $96.90. The firm has a market capitalization of $2.07 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.97 and a beta of 0.83.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, October 28th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.04 by $0.20. The business 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%. Equities analysts predict that PC Connection, Inc. will post 4.46 EPS for the current year.

PC Connection Dividend Announcement

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 of this dividend is Tuesday, November 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. PC Connection’s dividend payout ratio (DPR) is currently 19.75%.

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC lifted its position in PC Connection by 2,726.6% during the 3rd quarter. Global Retirement Partners LLC now owns 3,929 shares of the company’s stock worth $355,000 after buying an additional 3,790 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of PC Connection by 40.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 538 shares of the company’s stock valued at $49,000 after acquiring an additional 156 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in shares of PC Connection by 7.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 7,480 shares of the company’s stock valued at $675,000 after acquiring an additional 520 shares in the last quarter. Maryland State Retirement & Pension System acquired a new stake in shares of PC Connection in the third quarter valued at about $220,000. Finally, Parallel Advisors LLC increased its position in shares of PC Connection by 182.3% in the third quarter. Parallel Advisors LLC now owns 2,377 shares of the company’s stock valued at $214,000 after acquiring an additional 1,535 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNXN. Weiss Ratings raised PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research upgraded PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

About PC Connection

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.