PC Connection, Inc. (NASDAQ:CNXN) CEO Timothy J. Mcgrath Sells 5,440 Shares

PC Connection, Inc. (NASDAQ:CNXN) CEO Timothy J. Mcgrath sold 5,440 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total transaction of $364,752.00. Following the sale, the chief executive officer now directly owns 260,387 shares in the company, valued at $17,458,948.35. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

PC Connection Stock Performance

Shares of NASDAQ:CNXN opened at $65.53 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 19.92, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. The business has a 50-day simple moving average of $64.00 and a two-hundred day simple moving average of $67.18. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.42 by $0.18. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. The company had revenue of $701.05 million during the quarter, compared to analyst estimates of $646.37 million. As a group, research analysts predict that PC Connection, Inc. will post 3.33 earnings per share for the current year.

PC Connection Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.92%. PC Connection’s dividend payout ratio is currently 18.18%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, May 9th.

Institutional Investors Weigh In On PC Connection

Hedge funds and other institutional investors have recently made changes to their positions in the business. Farther Finance Advisors LLC boosted its holdings in shares of PC Connection by 23,450.0% in the first quarter. Farther Finance Advisors LLC now owns 471 shares of the company’s stock worth $30,000 after buying an additional 469 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in PC Connection in the fourth quarter worth approximately $40,000. Russell Investments Group Ltd. boosted its stake in shares of PC Connection by 6,900.0% during the 1st quarter. Russell Investments Group Ltd. now owns 980 shares of the company’s stock worth $61,000 after acquiring an additional 966 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of PC Connection by 143.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company’s stock worth $77,000 after acquiring an additional 657 shares during the last quarter. Finally, CWM LLC grew its position in shares of PC Connection by 67.4% during the 1st quarter. CWM LLC now owns 1,637 shares of the company’s stock valued at $102,000 after acquiring an additional 659 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.