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

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of PC Connection stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $87.48, for a total value of $624,782.16. Following the transaction, the chairman owned 6,892,049 shares of the company’s stock, valued at $602,916,446.52. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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 value 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 value 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 value 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 value 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 shares were sold at an average price of $78.64, for a total value of $561,646.88.

PC Connection Trading Down 9.3%

Shares of NASDAQ:CNXN opened at $79.67 on Friday. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $96.90. The company has a market capitalization of $2.01 billion, a PE ratio of 20.76, a PEG ratio of 1.97 and a beta of 0.83. The business has a 50 day moving average of $87.34 and a two-hundred day moving average of $72.86.

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

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. PC Connection’s dividend payout ratio is 19.75%.

Wall Street Analyst Weigh In

CNXN has been the subject of a number of recent analyst reports. Weiss Ratings raised shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Zacks Research raised shares of PC Connection from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

Institutional Trading of PC Connection

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

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.