PC Connection, Inc. (NASDAQ:CNXN) CEO Sells $674,470.04 in Stock
PC Connection, Inc. (NASDAQ:CNXN) CEO Timothy J. Mcgrath sold 26,122 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $25.82, for a total transaction of $674,470.04. Following the completion of the sale, the chief executive officer now owns 224,907 shares of the company’s stock, valued at $5,807,098.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
PC Connection, Inc. (NASDAQ:CNXN) traded up 0.27% during trading on Monday, hitting $25.75. 53,231 shares of the stock traded hands. The firm has a market cap of $689.69 million, a PE ratio of 14.56 and a beta of 1.63. The firm has a 50-day moving average price of $26.38 and a 200 day moving average price of $27.35. PC Connection, Inc. has a 12 month low of $22.31 and a 12 month high of $30.48.
PC Connection (NASDAQ:CNXN) last issued its earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. PC Connection had a net margin of 1.66% and a return on equity of 11.39%. The business had revenue of $749.79 million for the quarter, compared to the consensus estimate of $733.18 million. During the same period in the prior year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, equities analysts forecast that PC Connection, Inc. will post $1.96 EPS for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc acquired a new position in PC Connection during the first quarter worth about $102,000. Dubuque Bank & Trust Co. acquired a new position in PC Connection during the first quarter worth about $104,000. Acadian Asset Management LLC acquired a new position in PC Connection during the first quarter worth about $173,000. Victory Capital Management Inc. acquired a new position in PC Connection during the first quarter worth about $175,000. Finally, First Quadrant L P CA acquired a new position in PC Connection during the first quarter worth about $185,000. Hedge funds and other institutional investors own 40.65% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of PC Connection from a “hold” rating to a “sell” rating in a report on Monday, April 24th. Roth Capital reiterated a “buy” rating and set a $32.00 target price on shares of PC Connection in a report on Friday, April 21st.
About PC Connection
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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