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

Key Points

• Insider selling: Chairman Patricia Gallup sold 7,142 PC Connection shares for approximately $661,064 at an average price of $92.56, reducing her ownership by 0.10% to roughly 6.92 million shares. She has also made several additional sales since August.
• Stock performance: CNXN traded near $91.98, close to its 12-month high of $93.89, with a market capitalization of about $2.32 billion. The shares remained above both their 50-day and 200-day moving averages.
• Financial outlook: PC Connection exceeded quarterly expectations with EPS of $1.31 versus the $1.00 estimate and revenue of $854 million, while maintaining a quarterly dividend of $0.20 per share. Analyst sentiment was mixed but remained a “Moderate Buy” overall.

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $92.56, for a total transaction of $661,063.52. Following the completion of the sale, the chairman directly owned 6,920,617 shares in the company, valued at approximately $640,572,309.52. The trade was a 0.10% decrease in their ownership of the stock. The sale 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 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 transaction of $573,658.40.
• 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 Trading Down 0.4%

Shares of CNXN stock traded down $0.41 during trading hours on Wednesday, hitting $91.98. The company's stock had a trading volume of 123,296 shares, compared to its average volume of 115,422. The business has a fifty day moving average of $84.17 and a 200-day moving average of $73.82. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $93.89. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 24.33, a P/E/G ratio of 2.21 and a beta of 0.81.

PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.31. The firm had revenue of $854.00 million during the quarter, compared to the consensus estimate of $764.79 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. On average, equities analysts expect that PC Connection, Inc. will post 4.18 EPS for the current fiscal year.

PC Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th were issued 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 payout ratio is 21.16%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Parallel Advisors LLC grew its position in shares of PC Connection by 200.4% in the first quarter. Parallel Advisors LLC now owns 709 shares of the company's stock valued at $41,000 after purchasing an additional 473 shares during the period. Meeder Asset Management Inc. acquired a new stake in PC Connection in the 1st quarter worth about $44,000. Quantbot Technologies LP acquired a new stake in PC Connection in the 2nd quarter worth about $105,000. Fifth Third Bancorp grew its holdings in PC Connection by 1,551.2% in the 1st quarter. Fifth Third Bancorp now owns 2,675 shares of the company's stock valued at $156,000 after buying an additional 2,513 shares during the period. Finally, Arizona State Retirement System acquired a new position in shares of PC Connection during the 2nd quarter valued at about $229,000. Hedge funds and other institutional investors own 42.85% of the company's stock.

Analyst Ratings Changes

CNXN has been the topic of a number of analyst reports. Weiss Ratings lowered PC Connection from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 16th. Zacks Research lowered shares of PC Connection from a "strong-buy" rating to a "hold" rating in a 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy".

About PC Connection

PC Connection, Inc is an information technology solutions provider that supplies computer hardware, software, networking equipment, peripherals and related technology products to organizations in the United States. The company serves businesses, government agencies and educational institutions through its Connection brand and online and sales channels.

In addition to product distribution, PC Connection provides technology services designed to help customers plan, deploy and manage IT environments.

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