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 the company’s stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $69.73, for a total transaction of $498,011.66. Following the completion of the transaction, the chairman directly owned 7,020,605 shares of the company’s stock, valued at $489,546,786.65. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• 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 shares were sold at an average price of $72.09, for a total value of $499,151.16.

PC Connection Stock Up 0.9%

NASDAQ CNXN opened at $71.11 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 1.80 and a beta of 0.88. The business has a 50-day moving average price of $67.37 and a 200-day moving average price of $62.59. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $75.00.

PC Connection (NASDAQ:CNXN) last issued 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 return on equity of 10.17% and a net margin of 3.02%.The company had revenue of $721.87 million for the quarter, compared to the consensus estimate of $696.09 million. Research analysts expect that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on CNXN. Weiss Ratings upgraded shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, PC Connection presently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On PC Connection

A number of hedge funds have recently bought and sold shares of CNXN. Parallel Advisors LLC grew its stake in shares of PC Connection by 200.4% in the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock worth $41,000 after buying an additional 473 shares in the last quarter. Amundi purchased a new stake in shares of PC Connection during the 1st quarter valued at about $206,000. Quantinno Capital Management LP lifted its stake in shares of PC Connection by 137.8% in the 1st quarter. Quantinno Capital Management LP now owns 17,166 shares of the company’s stock valued at $1,004,000 after purchasing an additional 9,947 shares during the last quarter. Aristides Capital LLC bought a new stake in PC Connection in the first quarter worth $220,000. Finally, Inceptionr LLC purchased a new position in shares of PC Connection during the 1st quarter worth about $320,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.