Timothy J. Mcgrath Sells 5,440 Shares of PC Connection, Inc. (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) CEO Timothy J. Mcgrath sold 5,440 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $67.05, for a total value of $364,752.00. Following the completion of the transaction, the chief executive officer now owns 260,387 shares in the company, valued at $17,458,948.35. This represents a 2.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PC Connection Stock Performance

NASDAQ:CNXN traded up $0.71 during trading hours on Tuesday, reaching $65.14. The stock had a trading volume of 72,069 shares, compared to its average volume of 98,939. The stock has a 50 day simple moving average of $64.13 and a 200 day simple moving average of $67.02. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19. The stock has a market cap of $1.65 billion, a P/E ratio of 19.80, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67.

PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.18. The company had revenue of $701.05 million during the quarter, compared to analysts' expectations of $646.37 million. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. On average, equities analysts expect that PC Connection, Inc. will post 3.33 earnings per share for the current fiscal year.

PC Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.92%. The ex-dividend date was Tuesday, May 13th. PC Connection's dividend payout ratio (DPR) is currently 18.18%.

Institutional Investors Weigh In On PC Connection

Several hedge funds have recently added to or reduced their stakes in CNXN. GAMMA Investing LLC lifted its stake in PC Connection by 26,952.8% during the first quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock worth $8,443,000 after purchasing an additional 134,764 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in shares of PC Connection by 446.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 109,460 shares of the company's stock valued at $6,832,000 after acquiring an additional 89,429 shares during the last quarter. Millennium Management LLC lifted its stake in shares of PC Connection by 98.8% in the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company's stock valued at $7,193,000 after acquiring an additional 57,257 shares during the last quarter. Nuveen LLC bought a new stake in shares of PC Connection in the 1st quarter valued at about $2,190,000. Finally, AQR Capital Management LLC lifted its stake in shares of PC Connection by 25.8% in the 1st quarter. AQR Capital Management LLC now owns 124,258 shares of the company's stock valued at $7,756,000 after acquiring an additional 25,461 shares during the last quarter. Institutional investors own 42.85% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered PC Connection from a "strong-buy" rating to a "buy" rating in a report on Friday, May 9th.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.