PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 8,004 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 8,004 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $86.57, for a total value of $692,906.28. Following the completion of the transaction, the chairman owned 6,906,383 shares of the company’s stock, valued at approximately $597,885,576.31. This represents a 0.12% decrease in their position. The transaction 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 Wednesday, October 21st, Patricia Gallup sold 7,192 shares of PC Connection stock. The shares were sold at an average price of $87.20, for a total transaction of $627,142.40.
• On Tuesday, October 6th, Patricia Gallup sold 6,230 shares of PC Connection stock. The shares were sold at an average price of $92.08, for a total transaction of $573,658.40.
• On Monday, October 5th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $92.56, for a total transaction of $661,063.52.
• 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 value 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 value 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

NASDAQ:CNXN opened at $88.51 on Friday. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 22.15, a price-to-earnings-growth ratio of 2.10 and a beta of 0.81. PC Connection, Inc. has a one year low of $54.97 and a one year high of $96.90. The business’s 50-day simple moving average is $85.85 and its 200 day simple moving average is $76.55.

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

PC Connection Dividend Announcement

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

Hedge Funds Weigh In On PC Connection

A number of hedge funds have recently bought and sold shares of CNXN. Fifth Third Wealth Advisors LLC bought a new stake in PC Connection in the third quarter valued at about $678,000. Nisa Investment Advisors LLC raised its stake in PC Connection by 53.0% during the third quarter. Nisa Investment Advisors LLC now owns 2,683 shares of the company’s stock valued at $242,000 after buying an additional 929 shares in the last quarter. SteelPeak Wealth LLC acquired a new stake in PC Connection during the third quarter valued at approximately $259,000. USA Financial Formulas acquired a new stake in PC Connection during the third quarter valued at approximately $27,000. Finally, Cyndeo Wealth Partners LLC bought a new position in PC Connection during the 3rd quarter worth approximately $265,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on CNXN shares. Weiss Ratings upgraded shares of PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research cut shares of PC Connection from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

PC Connection Company Profile

PC Connection, Inc is an information technology solutions provider that supplies technology products, services and expertise to businesses, government agencies, educational institutions and other organizations. The company helps customers plan, acquire, deploy and manage IT environments across workplace, data center, networking, security and cloud infrastructure.

Its offerings include computers, servers, storage systems, networking equipment, software, peripherals and related technology accessories.