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

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction that occurred on Tuesday, November 3rd. The stock was sold at an average price of $87.48, for a total value of $624,782.16. Following the completion of the sale, the chairman directly owned 6,892,049 shares of the company’s stock, valued at approximately $602,916,446.52. 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 Wednesday, October 21st, Patricia Gallup sold 7,192 shares of PC Connection stock. The shares were sold at an average price of $87.20, for a total transaction of $627,142.40.
• On Tuesday, October 20th, Patricia Gallup sold 8,004 shares of PC Connection stock. The stock was sold at an average price of $86.57, for a total transaction of $692,906.28.
• On Tuesday, October 6th, Patricia Gallup sold 6,230 shares of PC Connection stock. The stock was sold at an average price of $92.08, for a total transaction of $573,658.40.
• On Monday, October 5th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $92.56, for a total transaction of $661,063.52.
• On Monday, September 14th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $85.42, for a total value of $610,069.64.
• On Tuesday, September 1st, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were 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.

PC Connection Stock Down 9.3%

Shares of NASDAQ CNXN traded down $8.14 during midday trading on Thursday, reaching $79.67. The company had a trading volume of 255,864 shares, compared to its average volume of 122,151. The stock has a market cap of $2.01 billion, a PE ratio of 19.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.83. PC Connection, Inc. has a one year low of $54.97 and a one year high of $96.90. The firm’s fifty day moving average price is $87.33 and its 200-day moving average price is $72.75.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Wednesday, October 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.20. PC Connection had a return on equity of 11.38% and a net margin of 3.25%. The business had revenue of $874.31 million for the quarter, compared to analyst estimates of $773.74 million. As a group, equities research analysts expect that PC Connection, Inc. will post 4.46 EPS for the current year.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Tuesday, November 10th will be given a $0.20 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.80 annualized dividend and a yield of 1.0%. PC Connection’s payout ratio is presently 19.75%.

Institutional Trading of PC Connection

A number of institutional investors have recently modified their holdings of the company. BlackRock Inc. purchased a new position in PC Connection during the 2nd quarter valued at about $158,833,000. Bank of New York Mellon Corp bought a new position in PC Connection during the 2nd quarter valued at approximately $9,982,000. Man Group plc bought a new position in PC Connection during the 2nd quarter valued at approximately $6,925,000. PDT Partners LLC purchased a new stake in PC Connection in the 2nd quarter worth approximately $3,557,000. Finally, Bank of America Corp DE purchased a new stake in PC Connection in the 2nd quarter worth approximately $3,080,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CNXN shares. Zacks Research upgraded shares of PC Connection from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat.com, PC Connection currently has a consensus rating of “Strong Buy”.

PC Connection Company Profile

PC Connection, Inc is an information technology solutions provider that supplies technology products, services and expertise to businesses, government agencies, educational institutions and other organizations. The company helps customers plan, acquire, deploy and manage IT environments across workplace, data center, networking, security and cloud infrastructure.

Its offerings include computers, servers, storage systems, networking equipment, software, peripherals and related technology accessories.