PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 7,142 Shares

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of PC Connection stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $85.42, for a total value of $610,069.64. Following the completion of the transaction, the chairman owned 6,934,901 shares of the company’s stock, valued at approximately $592,379,243.42. This represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Patricia Gallup also recently made the following trade(s):

• On Tuesday, September 1st, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $78.96, for a total value of $563,932.32.
• On Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $78.64, for a total value of $561,646.88.
• On Tuesday, August 4th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $86.34, for a total value of $616,640.28.
• On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $72.86, for a total value of $520,366.12.
• On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $69.73, for a total value of $498,011.66.

PC Connection Price Performance

Shares of NASDAQ:CNXN opened at $87.12 on Thursday. The business’s 50 day moving average price is $81.35 and its 200-day moving average price is $70.95. PC Connection, Inc. has a 1 year low of $54.97 and a 1 year high of $88.35. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.31. The business had revenue of $854.00 million for the quarter, compared to the consensus estimate of $764.79 million. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. On average, sell-side analysts expect that PC Connection, Inc. will post 4.18 earnings per share for the current year.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 11th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date was Tuesday, August 11th. PC Connection’s payout ratio is 21.16%.

Analyst Ratings Changes

A number of analysts have recently issued reports on CNXN shares. Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, PC Connection presently has an average rating of “Strong Buy”.

Institutional Trading of PC Connection

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC grew its holdings in PC Connection by 200.4% during the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock worth $41,000 after acquiring an additional 473 shares in the last quarter. MQS Management LLC raised its holdings in shares of PC Connection by 13.4% in the 4th quarter. MQS Management LLC now owns 5,328 shares of the company’s stock valued at $308,000 after purchasing an additional 629 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of PC Connection in the 1st quarter valued at $44,000. Principal Financial Group Inc. raised its holdings in shares of PC Connection by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 55,201 shares of the company’s stock valued at $3,227,000 after purchasing an additional 1,071 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in shares of PC Connection during the 2nd quarter worth $105,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc (NASDAQ: CNXN) is an information technology solutions provider serving businesses, government agencies, educational institutions and other organizations. The company supplies technology products and provides services designed to help customers plan, implement and manage their IT environments.

Its offerings include computers and mobile devices, servers, storage systems, networking equipment, software, peripherals and communications products. PC Connection also provides professional and lifecycle services, including consulting, systems integration, cloud and data-center solutions, cybersecurity, managed services, deployment, configuration and technical support.

Founded in 1982, the company operates primarily in the United States through brands and business units that include Connection, GovConnection and MoreDirect.