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

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,142 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $78.96, for a total value of $563,932.32. Following the sale, the chairman owned 6,949,185 shares in the company, valued at approximately $548,707,647.60. This represents a 0.10% decrease in their ownership of the stock. The sale 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, 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 transaction 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 transaction 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 transaction 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 transaction 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 transaction of $530,983.44.
• On Monday, June 8th, Patricia Gallup sold 6,924 shares of PC Connection stock. The shares were sold at an average price of $72.09, for a total transaction of $499,151.16.

PC Connection Stock Performance

PC Connection stock opened at $84.35 on Friday. PC Connection, Inc. has a fifty-two week low of $54.97 and a fifty-two week high of $88.31. The stock has a market cap of $2.13 billion, a P/E ratio of 22.31, a PEG ratio of 2.00 and a beta of 0.85. The firm’s fifty day moving average price is $79.54 and its 200-day moving average price is $69.59.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.31. PC Connection had a return on equity of 10.90% and a net margin of 3.21%.The company had revenue of $854.00 million during the quarter, compared to analyst estimates of $764.79 million. Sell-side analysts predict that PC Connection, Inc. will post 4.18 earnings per share 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 given a $0.20 dividend. 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%.

Analyst Upgrades and Downgrades

Several equities research analysts have 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 report on Thursday, July 30th. Zacks Research raised 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 issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Hedge Funds Weigh In On PC Connection

Several institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in 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. PNC Financial Services Group Inc. grew its position in PC Connection by 196.7% during the third quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after acquiring an additional 417 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of PC Connection by 200.4% during the first quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock worth $41,000 after acquiring an additional 473 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of PC Connection during the first quarter worth approximately $44,000. Finally, Quarry LP bought a new stake in shares of PC Connection in the 3rd quarter worth approximately $75,000. 42.85% of the stock is currently owned by institutional investors.

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.