Patricia Gallup Sells 6,924 Shares of PC Connection (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 6,924 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $72.09, for a total transaction of $499,151.16. Following the sale, the chairman owned 7,035,131 shares in the company, valued at approximately $507,162,593.79. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $71.91, for a total transaction of $530,983.44.

PC Connection Stock Down 2.3%

PC Connection stock opened at $72.40 on Friday. The firm has a market cap of $1.83 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 1.89 and a beta of 0.88. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $75.00. The company’s 50 day moving average is $65.56 and its two-hundred day moving average is $61.72.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, April 29th. The company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.15. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The company had revenue of $721.87 million for the quarter, compared to the consensus estimate of $696.09 million. On average, equities research analysts anticipate that PC Connection, Inc. will post 3.93 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Tuesday, May 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. PC Connection’s dividend payout ratio is currently 23.26%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Martingale Asset Management L P grew its position in shares of PC Connection by 1.3% in the 4th quarter. Martingale Asset Management L P now owns 19,137 shares of the company’s stock valued at $1,105,000 after buying an additional 252 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PC Connection by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after buying an additional 312 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PC Connection by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock valued at $286,000 after buying an additional 348 shares during the last quarter. WINTON GROUP Ltd grew its position in shares of PC Connection by 6.7% in the 4th quarter. WINTON GROUP Ltd now owns 6,257 shares of the company’s stock valued at $361,000 after buying an additional 394 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of PC Connection by 1.8% in the 4th quarter. Swiss National Bank now owns 22,500 shares of the company’s stock valued at $1,300,000 after buying an additional 400 shares during the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

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.