PC Connection (NASDAQ:CNXN) Chairman Sells $563,932.32 in Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of PC Connection stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $78.96, for a total value of $563,932.32. Following the completion of the transaction, the chairman directly owned 6,949,185 shares of the company’s stock, valued at approximately $548,707,647.60. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were 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 shares were sold at an average price of $86.34, for a total value of $616,640.28.
• On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $72.86, for a total value 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 value 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 value 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 value of $499,151.16.

PC Connection Stock Performance

Shares of PC Connection stock traded up $2.56 on Thursday, reaching $83.53. 114,335 shares of the company’s stock were exchanged, compared to its average volume of 111,102. The company has a market capitalization of $2.11 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 1.92 and a beta of 0.85. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $88.31. The firm’s 50-day moving average is $79.03 and its two-hundred day moving average is $69.34.

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

PC Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors 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 yield of 1.0%. PC Connection’s dividend payout ratio is currently 21.16%.

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently modified their holdings of the company. Martingale Asset Management L P lifted its stake in PC Connection by 1.3% during the 4th quarter. Martingale Asset Management L P now owns 19,137 shares of the company’s stock valued at $1,105,000 after acquiring an additional 252 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PC Connection by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock worth $431,000 after acquiring an additional 312 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of PC Connection by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock worth $286,000 after acquiring an additional 348 shares in the last quarter. WINTON GROUP Ltd raised its holdings in shares of PC Connection by 6.7% in the fourth quarter. WINTON GROUP Ltd now owns 6,257 shares of the company’s stock valued at $361,000 after purchasing an additional 394 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of PC Connection by 1.8% in the fourth quarter. Swiss National Bank now owns 22,500 shares of the company’s stock valued at $1,300,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CNXN. Weiss Ratings raised shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus 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.