PC Connection (NASDAQ:CNXN) Chairman Sells $573,658.40 in Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 6,230 shares of the company’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $92.08, for a total transaction of $573,658.40. Following the completion of the transaction, the chairman owned 6,914,387 shares in the company, valued at approximately $636,676,754.96. This trade represents a 0.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Monday, October 5th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was 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 stock was 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.
• On Tuesday, August 4th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $86.34, for a total value of $616,640.28.

PC Connection Price Performance

CNXN opened at $92.81 on Friday. The business has a fifty day simple moving average of $84.70 and a 200 day simple moving average of $74.44. The company has a market capitalization of $2.34 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.18 and a beta of 0.81. PC Connection, Inc. has a 1 year low of $54.97 and a 1 year high of $93.89.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.31. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. The firm had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $764.79 million. Equities analysts anticipate that PC Connection, Inc. will post 4.18 earnings per share for the current fiscal year.

PC Connection Announces Dividend

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

Analysts Set New Price Targets

CNXN has been the subject of a number of recent research reports. Zacks Research downgraded shares of PC Connection from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, PC Connection has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC raised its stake in PC Connection by 7,862.1% during the third quarter. Farther Finance Advisors LLC now owns 2,309 shares of the company’s stock worth $208,000 after acquiring an additional 2,280 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of PC Connection during the 2nd quarter valued at approximately $711,000. Arizona State Retirement System bought a new stake in shares of PC Connection during the 2nd quarter valued at approximately $229,000. Susquehanna Fundamental Investments LLC bought a new stake in shares of PC Connection during the 2nd quarter valued at approximately $1,468,000. Finally, Public Employees Retirement System of Ohio acquired a new position in PC Connection during the 2nd quarter worth approximately $608,000. Institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc is an information technology solutions provider that supplies computer hardware, software, networking equipment, peripherals and related technology products to organizations in the United States. The company serves businesses, government agencies and educational institutions through its Connection brand and online and sales channels.

In addition to product distribution, PC Connection provides technology services designed to help customers plan, deploy and manage IT environments.