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

Key Points

• Chairman Patricia Gallup sold 7,192 PC Connection shares at an average price of $87.20, generating $627,142.40; she retained approximately 6.9 million shares valued at about $601.6 million.
• PC Connection shares rose 0.9% to $88.51, with the stock trading between a 52-week low of $54.97 and high of $96.90. The company recently exceeded quarterly earnings and revenue estimates.
• The company pays a quarterly dividend of $0.20, equivalent to an annualized $0.80 payout and a 0.9% yield; analysts maintain a consensus rating of “Moderate Buy.”

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,192 shares of the firm's stock in a transaction 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 owned 6,899,191 shares of the company's stock, valued at approximately $601,609,455.20. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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 shares were sold at an average price of $78.96, for a total value of $563,932.32.
• On Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was 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 stock was sold at an average price of $86.34, for a total transaction of $616,640.28.

PC Connection Trading Up 0.9%

NASDAQ:CNXN traded up $0.78 during trading hours on Thursday, hitting $88.51. The company's stock had a trading volume of 107,734 shares, compared to its average volume of 117,408. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $96.90. The stock has a market capitalization of $2.23 billion, a P/E ratio of 23.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. The stock has a fifty day moving average of $85.70 and a 200-day moving average of $76.34.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its 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 analyst estimates of $764.79 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. On average, sell-side analysts forecast that PC Connection, Inc. will post 4.18 earnings per share for the current year.

PC Connection Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, August 11th. PC Connection's dividend payout ratio (DPR) is 21.16%.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. USA Financial Formulas acquired a new stake in shares of PC Connection in the third quarter valued at approximately $27,000. Parallel Advisors LLC grew its position 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 during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of PC Connection in the 1st quarter valued at $44,000. Quantbot Technologies LP acquired a new position in shares of PC Connection in the 2nd quarter valued at $105,000. Finally, Fortitude Family Office LLC purchased a new stake in PC Connection in the 3rd quarter valued at $115,000. Hedge funds and other institutional investors own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Weiss Ratings raised shares of PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research lowered PC Connection from a "strong-buy" rating to a "hold" rating in a report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, PC Connection has a consensus rating of "Moderate Buy".

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.

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