Timothy J. Mcgrath Sells 26,565 Shares of PC Connection, Inc. (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) CEO Timothy J. Mcgrath sold 26,565 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $66.80, for a total value of $1,774,542.00. Following the sale, the chief executive officer now owns 265,827 shares in the company, valued at $17,757,243.60. The trade was a 9.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

PC Connection Trading Up 1.1%

CNXN stock traded up $0.71 during trading on Tuesday, reaching $65.14. 72,069 shares of the stock were exchanged, compared to its average volume of 98,939. PC Connection, Inc. has a twelve month low of $56.82 and a twelve month high of $77.19. The company has a market capitalization 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. The stock has a 50 day simple moving average of $64.13 and a 200-day simple moving average of $67.02.

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

PC Connection Announces Dividend

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

Institutional Trading of PC Connection

A number of institutional investors have recently bought and sold shares of the business. Vident Advisory LLC grew its holdings in PC Connection by 3.2% during the 1st quarter. Vident Advisory LLC now owns 7,157 shares of the company's stock worth $447,000 after acquiring an additional 223 shares during the period. Ieq Capital LLC grew its holdings in shares of PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock valued at $457,000 after buying an additional 224 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PC Connection by 3.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company's stock valued at $456,000 after buying an additional 234 shares during the period. EntryPoint Capital LLC grew its holdings in shares of PC Connection by 8.3% in the 4th quarter. EntryPoint Capital LLC now owns 3,220 shares of the company's stock valued at $223,000 after buying an additional 248 shares during the period. Finally, Rhumbline Advisers grew its holdings in shares of PC Connection by 0.4% in the 4th quarter. Rhumbline Advisers now owns 85,432 shares of the company's stock valued at $5,918,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds 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.