PC Connection (NASDAQ:CNXN) Chairman Sells 8,004 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 8,004 shares of PC Connection stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $86.57, for a total transaction of $692,906.28. Following the completion of the transaction, the chairman directly owned 6,906,383 shares in the company, valued at approximately $597,885,576.31. The trade was a 0.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 6th, Patricia Gallup sold 6,230 shares of PC Connection stock. The shares were 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 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 transaction 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 transaction 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 transaction 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 Stock Performance

Shares of NASDAQ CNXN traded up $0.78 during trading hours on Thursday, hitting $88.51. The company’s stock had a trading volume of 107,734 shares, compared to its average volume of 117,408. PC Connection, Inc. has a 12 month low of $54.97 and a 12 month high of $96.90. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 23.42, a P/E/G ratio of 2.07 and a beta of 0.81. The business has a 50-day simple moving average of $85.70 and a 200-day simple moving average of $76.34.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $764.79 million. On average, equities research analysts forecast that PC Connection, Inc. will post 4.18 EPS for the current year.

PC Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 annualized dividend and a dividend 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 analyst reports. Zacks Research downgraded 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 report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, PC Connection presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. USA Financial Formulas purchased a new position in shares of PC Connection in the 3rd quarter valued at approximately $27,000. Parallel Advisors LLC boosted its position in shares of PC Connection by 200.4% during the first quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 473 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of PC Connection during the first quarter valued at approximately $44,000. Fortitude Family Office LLC purchased a new stake in PC Connection in the third quarter worth $115,000. Finally, Quantbot Technologies LP purchased a new stake in PC Connection in the second quarter worth $105,000. 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 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.