PC Connection (NASDAQ:CNXN) Announces Quarterly Earnings Results

PC Connection (NASDAQ:CNXN) announced its quarterly earnings results on Wednesday. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.12), Zacks reports. PC Connection had a net margin of 3.23% and a return on equity of 10.30%. During the same period in the previous year, the firm posted $0.90 earnings per share.

PC Connection Trading Down 11.1 %

Shares of CNXN stock opened at $63.74 on Friday. PC Connection has a twelve month low of $57.47 and a twelve month high of $77.19. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 2.07 and a beta of 0.67. The firm has a 50-day moving average price of $71.49 and a 200 day moving average price of $71.37.

PC Connection Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be given a dividend of $0.15 per share. This is an increase from PC Connection’s previous quarterly dividend of $0.10. The ex-dividend date is Tuesday, February 25th. This represents a $0.60 annualized dividend and a yield of 0.94%. PC Connection’s dividend payout ratio (DPR) is presently 11.73%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Thursday, November 28th.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now directly owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 56.50% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.