PC Connection (NASDAQ:CNXN) Chairman Sells $561,646.88 in Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the business’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $78.64, for a total transaction of $561,646.88. Following the transaction, the chairman directly owned 6,963,469 shares in the company, valued at approximately $547,607,202.16. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 transaction 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 transaction of $520,366.12.
• On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $69.73, for a total transaction of $498,011.66.
• On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The stock was sold at an average price of $71.91, for a total transaction of $530,983.44.
• On Monday, June 8th, Patricia Gallup sold 6,924 shares of PC Connection stock. The shares were sold at an average price of $72.09, for a total transaction of $499,151.16.

PC Connection Price Performance

NASDAQ:CNXN opened at $77.93 on Friday. The firm has a 50-day moving average of $77.55 and a two-hundred day moving average of $68.42. The stock has a market cap of $1.97 billion, a P/E ratio of 20.62, a PEG ratio of 1.87 and a beta of 0.86. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $88.31.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.31. PC Connection had a return on equity of 10.90% and a net margin of 3.21%.The business had revenue of $854.00 million for the quarter, compared to analyst estimates of $764.79 million. As a group, equities analysts expect that PC Connection, Inc. will post 4.18 earnings per share for the current year.

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Tuesday, August 11th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 11th. PC Connection’s dividend payout ratio (DPR) is 21.16%.

Institutional Trading of PC Connection

Institutional investors have recently added to or reduced their stakes in the business. Susquehanna Fundamental Investments LLC bought a new position in shares of PC Connection in the 2nd quarter worth about $1,468,000. Public Employees Retirement System of Ohio bought a new stake in shares of PC Connection during the 2nd quarter valued at about $608,000. Bank of America Corp DE bought a new stake in shares of PC Connection during the 2nd quarter valued at about $3,080,000. Man Group plc bought a new stake in shares of PC Connection during the 2nd quarter valued at about $6,925,000. Finally, Jupiter Topco LLC acquired a new stake in PC Connection during the second quarter worth about $376,000. Institutional investors own 42.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on CNXN shares. Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Finally, Weiss Ratings raised shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, PC Connection has an average rating of “Strong Buy”.

About PC Connection

PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.

Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.