Jack L. Ferguson Sells 1,000 Shares of PC Connection, Inc. (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Director Jack L. Ferguson sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $66.32, for a total value of $66,320.00. Following the transaction, the director now directly owns 66,055 shares of the company's stock, valued at $4,380,767.60. The trade was a 1.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PC Connection Stock Up 1.1%

Shares of PC Connection stock traded up $0.71 during mid-day trading on Tuesday, reaching $65.14. 72,069 shares of the stock traded hands, compared to its average volume of 98,939. The business has a 50-day moving average of $64.13 and a 200 day moving average of $67.02. PC Connection, Inc. has a fifty-two week low of $56.82 and a fifty-two week high of $77.19. The stock has a market capitalization of $1.65 billion, a PE ratio of 19.80, a PEG ratio of 1.96 and a beta of 0.67.

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

PC Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Tuesday, May 13th were issued a $0.15 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.92%. PC Connection's dividend payout ratio is presently 18.18%.

Institutional Investors Weigh In On PC Connection

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its holdings in shares of PC Connection by 23,450.0% in the first quarter. Farther Finance Advisors LLC now owns 471 shares of the company's stock valued at $30,000 after purchasing an additional 469 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in shares of PC Connection in the fourth quarter valued at approximately $40,000. Russell Investments Group Ltd. increased its holdings in shares of PC Connection by 6,900.0% in the first quarter. Russell Investments Group Ltd. now owns 980 shares of the company's stock valued at $61,000 after purchasing an additional 966 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of PC Connection by 143.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 1,114 shares of the company's stock valued at $77,000 after purchasing an additional 657 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of PC Connection by 67.4% in the first quarter. CWM LLC now owns 1,637 shares of the company's stock valued at $102,000 after purchasing an additional 659 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company's stock.

Analyst Ratings Changes

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

About PC Connection

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.