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 firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $78.96, for a total value of $563,932.32. Following the completion of the transaction, the chairman owned 6,949,185 shares in the company, valued at approximately $548,707,647.60. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were 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 shares were 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 stock was 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 transaction of $499,151.16.

PC Connection Trading Up 3.2%

Shares of NASDAQ CNXN opened at $83.53 on Friday. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $88.31. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 22.10, a price-to-earnings-growth ratio of 1.94 and a beta of 0.85. The firm has a 50 day moving average of $79.28 and a 200 day moving average of $69.48.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.31. The business had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $764.79 million. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. Sell-side analysts predict that PC Connection, Inc. will post 4.18 EPS for the current year.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 11th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. PC Connection’s payout ratio is 21.16%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CNXN. Weiss Ratings raised PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, July 30th. Zacks Research upgraded shares of PC Connection from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy”.

Institutional Investors Weigh In On PC Connection

A number of institutional investors have recently added to or reduced their stakes in the stock. Amundi bought a new position in PC Connection in the first quarter worth about $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 in the last quarter. Millennium Management LLC boosted its holdings in shares of PC Connection by 98.8% in the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company’s stock valued at $7,193,000 after buying an additional 57,257 shares in the last quarter. Invesco Ltd. grew its position in shares of PC Connection by 2.4% in the 2nd quarter. Invesco Ltd. now owns 179,487 shares of the company’s stock worth $11,807,000 after buying an additional 4,146 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in shares of PC Connection by 625.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.

PC Connection Company Profile

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.