Patricia Gallup Sells 7,384 Shares of PC Connection (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,384 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $71.91, for a total value of $530,983.44. Following the transaction, the chairman owned 7,027,747 shares in the company, valued at approximately $505,365,286.77. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 value of $499,151.16.

PC Connection Price Performance

PC Connection stock traded up $0.83 during mid-day trading on Wednesday, reaching $74.11. 176,791 shares of the company were exchanged, compared to its average volume of 86,338. The company has a fifty day simple moving average of $64.95 and a 200-day simple moving average of $61.49. PC Connection, Inc. has a 12 month low of $54.97 and a 12 month high of $75.00. The firm has a market cap of $1.87 billion, a PE ratio of 21.54, a PEG ratio of 1.83 and a beta of 0.88.

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

PC Connection Announces Dividend

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

Institutional Investors Weigh In On PC Connection

Hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its holdings in shares of PC Connection by 63.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,021 shares of the company’s stock valued at $2,853,000 after acquiring an additional 17,808 shares in the last quarter. Denali Advisors LLC raised its position in shares of PC Connection by 30.4% in the 3rd quarter. Denali Advisors LLC now owns 86,900 shares of the company’s stock worth $5,387,000 after acquiring an additional 20,269 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in PC Connection by 12.0% during the fourth quarter. Teacher Retirement System of Texas now owns 114,768 shares of the company’s stock worth $6,629,000 after acquiring an additional 12,275 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of PC Connection by 88.1% during the fourth quarter. SG Americas Securities LLC now owns 28,495 shares of the company’s stock valued at $1,646,000 after purchasing an additional 13,343 shares during the period. Finally, Vanguard Group Inc. increased its position in PC Connection by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 1,080,151 shares of the company’s stock valued at $62,390,000 after buying an additional 10,218 shares in the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on CNXN. Wall Street Zen raised PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Weiss Ratings raised PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. One 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 stock currently has a consensus 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.