PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 7,192 Shares of Company Stock

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 7,192 shares of the business’s stock in a transaction that occurred on Wednesday, October 21st. The stock was sold at an average price of $87.20, for a total value of $627,142.40. Following the transaction, the chairman directly owned 6,899,191 shares in the company, valued at $601,609,455.20. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Tuesday, October 20th, Patricia Gallup sold 8,004 shares of PC Connection stock. The shares were sold at an average price of $86.57, for a total value of $692,906.28.
• 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 value of $573,658.40.
• On Monday, October 5th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $92.56, for a total value of $661,063.52.
• On Monday, September 14th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $85.42, for a total transaction of $610,069.64.
• On Tuesday, September 1st, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $78.96, for a total transaction of $563,932.32.
• 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.

PC Connection Price Performance

Shares of CNXN opened at $88.51 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of 22.15, a PEG ratio of 2.10 and a beta of 0.81. The company’s 50-day moving average is $85.85 and its 200-day moving average is $76.55. PC Connection, Inc. has a fifty-two week low of $54.97 and a fifty-two week high of $96.90.

PC Connection (NASDAQ:CNXN) last posted its earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.31. The company had revenue of $854.00 million during 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%. Analysts predict that PC Connection, Inc. will post 4.18 earnings per share for the current fiscal year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 11th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 11th. PC Connection’s dividend payout ratio is currently 21.16%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CNXN. Fifth Third Wealth Advisors LLC bought a new position in shares of PC Connection during the third quarter worth approximately $678,000. Nisa Investment Advisors LLC raised its position in shares of PC Connection by 53.0% in 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 shares of PC Connection in the third quarter valued at approximately $259,000. USA Financial Formulas acquired a new stake in shares of PC Connection in the third quarter valued at approximately $27,000. Finally, Cyndeo Wealth Partners LLC bought a new stake in shares of PC Connection in the third quarter valued at approximately $265,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

About PC Connection

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.