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

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Director Jack L. Ferguson sold 1,000 shares of PC Connection stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $66.32, for a total transaction of $66,320.00. Following the sale, the director now owns 66,055 shares in the company, valued at $4,380,767.60. This represents a 1.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

PC Connection Stock Performance

NASDAQ CNXN traded down $0.97 on Monday, reaching $64.43. The stock had a trading volume of 116,210 shares, compared to its average volume of 98,878. The stock has a market cap of $1.64 billion, a P/E ratio of 19.58, a price-to-earnings-growth ratio of 1.96 and a beta of 0.67. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19. The business's 50-day moving average price is $64.09 and its 200 day moving average price is $67.03.

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

PC Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Tuesday, May 13th were paid a $0.15 dividend. The ex-dividend date was Tuesday, May 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.93%. PC Connection's dividend payout ratio is presently 18.18%.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC increased its position in PC Connection by 26,952.8% in the 1st quarter. GAMMA Investing LLC now owns 135,264 shares of the company's stock valued at $8,443,000 after acquiring an additional 134,764 shares during the period. Jacobs Levy Equity Management Inc. lifted its position in PC Connection by 446.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 109,460 shares of the company's stock worth $6,832,000 after acquiring an additional 89,429 shares during the period. Millennium Management LLC grew 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 purchasing an additional 57,257 shares during the last quarter. Nuveen LLC acquired a new position in shares of PC Connection in the first quarter valued at approximately $2,190,000. Finally, AQR Capital Management LLC increased its holdings in shares of PC Connection by 25.8% in the first quarter. AQR Capital Management LLC now owns 124,258 shares of the company's stock valued at $7,756,000 after purchasing an additional 25,461 shares during the period. 42.85% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut PC Connection from a "strong-buy" rating to a "buy" rating in a research 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.