PC Connection, Inc. (NASDAQ:CNXN – Get Free Report) announced a quarterly dividend on Wednesday, July 31st, Zacks reports. Investors of record on Tuesday, August 13th will be paid a dividend of 0.10 per share on Friday, August 30th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date of this dividend is Tuesday, August 13th.
PC Connection has a dividend payout ratio of 10.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect PC Connection to earn $3.82 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 10.5%.
PC Connection Stock Performance
PC Connection stock traded down $2.18 during trading on Friday, reaching $72.89. 1,792 shares of the company’s stock were exchanged, compared to its average volume of 75,319. The company’s 50-day moving average is $65.76 and its two-hundred day moving average is $65.45. PC Connection has a 52-week low of $48.29 and a 52-week high of $76.39. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 2.14 and a beta of 0.61.
Wall Street Analysts Forecast Growth
Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 26th.
Check Out Our Latest Report on PC Connection
Insider Buying and Selling at PC Connection
In other PC Connection news, Director Barbara Duckett sold 1,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $68.08, for a total value of $68,080.00. Following the completion of the transaction, the director now directly owns 13,877 shares of the company’s stock, valued at approximately $944,746.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 56.90% of the stock is currently owned by corporate insiders.
About PC Connection
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.
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