PC Connection (NASDAQ:CNXN) Chairman Sells $624,782.16 in Stock

Key Points

• Chair Patricia Gallup sold 7,142 PC Connection shares for $624,782 at an average price of $87.48, reducing her stake by 0.10%; she still directly owned about 6.89 million shares after the sale.
• PC Connection reported quarterly EPS of $1.24, beating the $1.04 consensus, and revenue of $874.31 million versus expectations of $773.74 million.
• The company announced a quarterly dividend of $0.20 per share, equivalent to a 1.0% annualized yield. Shares fell $8.14 to $79.67 in Thursday mid-day trading.

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the business's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $87.48, for a total transaction of $624,782.16. Following the sale, the chairman directly owned 6,892,049 shares in the company, valued at $602,916,446.52. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Wednesday, October 21st, Patricia Gallup sold 7,192 shares of PC Connection stock. The stock was sold at an average price of $87.20, for a total value of $627,142.40.
• On Tuesday, October 20th, Patricia Gallup sold 8,004 shares of PC Connection stock. The stock was 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 value 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 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.

PC Connection Price Performance

CNXN stock traded down $8.14 during mid-day trading on Thursday, reaching $79.67. 255,864 shares of the company traded hands, compared to its average volume of 122,151. The company has a market capitalization of $2.01 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.96 and a beta of 0.83. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $96.90. The company has a fifty day moving average price of $87.33 and a 200-day moving average price of $72.75.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.20. PC Connection had a return on equity of 11.38% and a net margin of 3.25%. The firm had revenue of $874.31 million for the quarter, compared to analysts' expectations of $773.74 million. As a group, analysts forecast that PC Connection, Inc. will post 4.46 EPS for the current year.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Tuesday, November 10th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 10th. PC Connection's dividend payout ratio is 19.75%.

Institutional Trading of PC Connection

Large investors have recently modified their holdings of the business. USA Financial Formulas bought a new position in PC Connection in the third quarter valued at $27,000. Parallel Advisors LLC lifted its stake in 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 purchasing an additional 473 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in PC Connection during the first quarter worth about $44,000. Signaturefd LLC lifted its stake in PC Connection by 505.4% during the third quarter. Signaturefd LLC now owns 1,011 shares of the company's stock worth $91,000 after purchasing an additional 844 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of PC Connection by 53.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,683 shares of the company's stock worth $242,000 after purchasing an additional 929 shares in the last quarter. Institutional investors own 42.85% of the company's stock.

Analysts Set New Price Targets

CNXN has been the subject of several analyst reports. Weiss Ratings raised shares of PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Zacks Research upgraded shares of PC Connection from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

PC Connection Company Profile

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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