Patricia Gallup Sells 7,142 Shares of PC Connection (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $78.64, for a total value of $561,646.88. Following the completion of the sale, the chairman owned 6,963,469 shares in the company, valued at approximately $547,607,202.16. This represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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.
• On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $72.86, for a total value of $520,366.12.
• 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 Down 0.1%

PC Connection stock opened at $77.88 on Friday. The firm has a market capitalization of $1.97 billion, a PE ratio of 20.60, a P/E/G ratio of 1.87 and a beta of 0.86. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $88.31. The firm’s 50-day simple moving average is $77.45 and its 200 day simple moving average is $68.35.

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

PC Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 11th. PC Connection’s dividend payout ratio (DPR) is 21.16%.

Analyst Ratings Changes

CNXN has been the topic of a number of analyst reports. Weiss Ratings upgraded PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, July 30th. Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the company has an average rating of “Strong Buy”.

Institutional Investors Weigh In On PC Connection

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its stake in PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of PC Connection by 196.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after buying an additional 417 shares during the period. Parallel Advisors LLC grew its stake in shares of PC Connection by 200.4% during 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 during the 1st quarter worth $44,000. Finally, Quarry LP acquired a new stake in shares of PC Connection during the 3rd quarter worth $75,000. 42.85% of the stock is currently owned by hedge funds and other institutional investors.

About PC Connection

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.