PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 7,192 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,192 shares of the company’s stock in a transaction dated Wednesday, October 21st. The shares were sold at an average price of $87.20, for a total transaction of $627,142.40. Following the completion of the sale, the chairman directly owned 6,899,191 shares of the company’s stock, valued at $601,609,455.20. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• 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 transaction 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.
• 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 Price Performance

Shares of CNXN stock traded up $0.78 during midday trading on Thursday, hitting $88.51. The company had a trading volume of 107,734 shares, compared to its average volume of 117,408. The company’s 50 day simple moving average is $85.70 and its 200 day simple moving average is $76.34. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $96.90. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.07 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $764.79 million. Analysts anticipate that PC Connection, Inc. will post 4.18 EPS for the current year.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 11th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, August 11th. PC Connection’s dividend payout ratio (DPR) is 21.16%.

Hedge Funds Weigh In On PC Connection

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas purchased a new position in shares of PC Connection during the 3rd quarter worth approximately $27,000. Parallel Advisors LLC lifted its holdings in shares of PC Connection by 200.4% in the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock valued at $41,000 after buying an additional 473 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of PC Connection in the 1st quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new stake in shares of PC Connection in the second quarter valued at approximately $105,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of PC Connection in the third quarter valued at approximately $115,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Ratings Changes

CNXN has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, October 8th. Zacks Research downgraded shares of PC Connection from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

About PC Connection

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.