PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 6,230 Shares of Company Stock

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

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

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

PC Connection Trading Down 0.4%

Shares of CNXN stock traded down $0.41 during trading hours on Wednesday, hitting $91.98. The company’s stock had a trading volume of 123,296 shares, compared to its average volume of 115,422. The business has a fifty day moving average of $84.17 and a 200-day moving average of $73.82. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $93.89. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.21 and a beta of 0.81.

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

PC Connection Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.9%. PC Connection’s dividend payout ratio (DPR) is presently 21.16%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Zacks Research cut shares of PC Connection from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 28th. Weiss Ratings downgraded PC Connection from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNXN. Tidal Investments LLC purchased a new stake in PC Connection during the second quarter valued at about $711,000. Arizona State Retirement System acquired a new position in shares of PC Connection in the 2nd quarter valued at about $229,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of PC Connection in the 2nd quarter valued at about $1,468,000. Public Employees Retirement System of Ohio purchased a new stake in shares of PC Connection during the 2nd quarter worth about $608,000. Finally, Bank of America Corp DE purchased a new stake in shares of PC Connection during the 2nd quarter worth about $3,080,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

About PC Connection

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.