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 business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $72.86, for a total transaction of $520,366.12. Following the transaction, the chairman owned 7,006,321 shares in the company, valued at $510,480,548.06. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $69.73, for a total transaction of $498,011.66.
• On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The stock was sold at an average price of $71.91, for a total transaction 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 Trading Up 0.8%

Shares of CNXN stock traded up $0.60 during midday trading on Wednesday, reaching $74.90. 133,887 shares of the stock were exchanged, compared to its average volume of 99,901. PC Connection, Inc. has a 1 year low of $54.97 and a 1 year high of $75.30. The company’s 50 day moving average is $68.78 and its two-hundred day moving average is $63.31. The firm has a market cap of $1.89 billion, a PE ratio of 21.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.88.

PC Connection (NASDAQ:CNXN) last released its earnings results on Wednesday, April 29th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. The company had revenue of $721.87 million during the quarter, compared to analysts’ expectations of $696.09 million. PC Connection had a return on equity of 10.17% and a net margin of 3.02%. As a group, equities analysts expect that PC Connection, Inc. will post 3.93 EPS for the current fiscal year.

PC Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, May 12th. PC Connection’s payout ratio is 23.26%.

Analyst Ratings Changes

CNXN has been the subject of several research reports. Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings raised shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, PC Connection presently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On PC Connection

Hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its holdings in shares of PC Connection by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,526,494 shares of the company’s stock valued at $89,237,000 after acquiring an additional 4,345 shares in the last quarter. Vanguard Group Inc. boosted its stake in PC Connection by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock worth $62,390,000 after purchasing an additional 10,218 shares in the last quarter. Geode Capital Management LLC grew its position in PC Connection by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 377,001 shares of the company’s stock valued at $21,777,000 after purchasing an additional 2,945 shares during the last quarter. Invesco Ltd. grew its position in PC Connection by 22.1% during the 4th quarter. Invesco Ltd. now owns 219,220 shares of the company’s stock valued at $12,662,000 after purchasing an additional 39,716 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in PC Connection by 71.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 165,573 shares of the company’s stock valued at $10,264,000 after purchasing an additional 68,906 shares in the last quarter. 42.85% of the stock is owned by 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.