PC Connection (NASDAQ:CNXN) Chairman Patricia Gallup Sells 8,004 Shares of Stock

Key Points

• Chairman Patricia Gallup sold 8,004 PC Connection shares at an average price of $86.57, generating approximately $692,906. She retained 6.91 million shares worth about $597.9 million, reducing her position by 0.12%.
• PC Connection shares were trading at $88.51, with a market capitalization of approximately $2.23 billion. The stock has ranged from $54.97 to $96.90 over the past year.
• The company reported quarterly EPS of $1.31, exceeding analysts’ $1.00 estimate, while revenue of $854 million also surpassed expectations. PC Connection pays a quarterly dividend of $0.20, representing a 0.9% yield, and analysts maintain a “Moderate Buy” consensus rating.

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 8,004 shares of the firm's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $86.57, for a total value of $692,906.28. Following the completion of the sale, the chairman directly owned 6,906,383 shares in the company, valued at approximately $597,885,576.31. The trade was a 0.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, October 21st, Patricia Gallup sold 7,192 shares of PC Connection stock. The shares were sold at an average price of $87.20, for a total value of $627,142.40.
• On Tuesday, October 6th, Patricia Gallup sold 6,230 shares of PC Connection stock. The stock was 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 stock was 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 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 Stock Performance

PC Connection stock traded up $0.78 during mid-day trading on Thursday, hitting $88.51. 107,734 shares of the company traded hands, compared to its average volume of 117,408. PC Connection, Inc. has a one year low of $54.97 and a one year high of $96.90. The stock has a market cap of $2.23 billion, a price-to-earnings 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 price of $85.70 and a 200-day moving average price of $76.34.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 EPS for the quarter, topping analysts' consensus estimates of $1.00 by $0.31. The firm had revenue of $854.00 million for the quarter, compared to analyst estimates 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Tuesday, August 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis 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%.

Analysts Set New Price Targets

CNXN has been the topic of a number of research reports. Zacks Research downgraded PC Connection from a "strong-buy" rating to a "hold" rating in a research report on Monday, September 28th. Weiss Ratings upgraded PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, PC Connection has an average rating of "Moderate Buy".

Institutional Investors Weigh In On PC Connection

Institutional investors have recently made changes to their positions in the business. PDT Partners LLC bought a new stake in shares of PC Connection in the 2nd quarter valued at about $3,557,000. Legal & General Group Plc purchased a new stake in PC Connection during the 2nd quarter valued at about $1,872,000. Hsbc Holdings PLC bought a new position in PC Connection during the 2nd quarter worth approximately $1,138,000. Bank of America Corp DE bought a new position in PC Connection during the 2nd quarter worth approximately $3,080,000. Finally, Allspring Global Investments Holdings LLC increased its stake in PC Connection by 137.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 61,038 shares of the company's stock worth $3,661,000 after purchasing an additional 35,358 shares during the period. Hedge funds and other institutional investors 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.

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