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

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The stock was sold at an average price of $92.56, for a total transaction of $661,063.52. Following the transaction, the chairman directly owned 6,920,617 shares of the company’s stock, valued at $640,572,309.52. This trade represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $573,658.40.
• 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 transaction 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 transaction of $563,932.32.
• On Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was 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 Stock Performance

PC Connection stock traded down $0.41 during midday trading on Wednesday, reaching $91.98. The stock had a trading volume of 123,296 shares, compared to its average volume of 115,422. The stock’s 50-day simple moving average is $84.17 and its 200 day simple moving average is $73.82. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $93.89. The stock has a market capitalization of $2.32 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last announced 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. The company had revenue of $854.00 million during the quarter, compared to analyst estimates of $764.79 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. Equities analysts predict that PC Connection, Inc. will post 4.18 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

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

Institutional Investors Weigh In On PC Connection

Several institutional investors and hedge funds have recently modified their holdings of CNXN. Tidal Investments LLC acquired a new stake in shares of PC Connection in the second quarter valued at about $711,000. Arizona State Retirement System acquired a new position in PC Connection during the 2nd quarter worth approximately $229,000. Susquehanna Fundamental Investments LLC purchased a new position in PC Connection in the 2nd quarter worth approximately $1,468,000. Public Employees Retirement System of Ohio purchased a new position in PC Connection in the 2nd quarter worth approximately $608,000. Finally, Bank of America Corp DE acquired a new stake in PC Connection in the second quarter valued at approximately $3,080,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Zacks Research cut shares of PC Connection from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Weiss Ratings lowered shares of PC Connection from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, September 16th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

PC Connection Company Profile

PC Connection, Inc is an information technology solutions provider that supplies computer hardware, software, networking equipment, peripherals and related technology products to organizations in the United States. The company serves businesses, government agencies and educational institutions through its Connection brand and online and sales channels.

In addition to product distribution, PC Connection provides technology services designed to help customers plan, deploy and manage IT environments.