PC Connection (NASDAQ:CNXN) Chairman Sells $520,366.12 in Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $72.86, for a total value of $520,366.12. Following the completion of the transaction, the chairman owned 7,006,321 shares in the company, valued at $510,480,548.06. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were 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 shares were 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 stock was sold at an average price of $72.09, for a total value of $499,151.16.

PC Connection Stock Up 0.8%

Shares of CNXN stock traded up $0.60 during trading on Wednesday, hitting $74.90. The company had a trading volume of 133,887 shares, compared to its average volume of 99,901. The stock’s 50-day moving average is $68.78 and its two-hundred day moving average is $63.31. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $75.30.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Wednesday, April 29th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.15. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The business had revenue of $721.87 million during the quarter, compared to analyst estimates of $696.09 million. On average, research analysts predict that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Tuesday, May 12th. PC Connection’s payout ratio is currently 23.26%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in shares of PC Connection by 63.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 46,021 shares of the company’s stock worth $2,853,000 after buying an additional 17,808 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in PC Connection by 12.0% in the fourth quarter. Teacher Retirement System of Texas now owns 114,768 shares of the company’s stock worth $6,629,000 after acquiring an additional 12,275 shares during the period. Royce & Associates LP boosted its holdings in PC Connection by 11.2% in the fourth quarter. Royce & Associates LP now owns 79,288 shares of the company’s stock valued at $4,580,000 after acquiring an additional 7,996 shares in the last quarter. Vanguard Group Inc. increased its position in PC Connection by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock valued at $62,390,000 after purchasing an additional 10,218 shares during the period. Finally, SG Americas Securities LLC increased its position in PC Connection by 88.1% during the 4th quarter. SG Americas Securities LLC now owns 28,495 shares of the company’s stock valued at $1,646,000 after purchasing an additional 13,343 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CNXN. Weiss Ratings raised PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, PC Connection has an average rating of “Moderate Buy”.

PC Connection Company Profile

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.