PC Connection, Inc. (NASDAQ:CNXN) CEO Sells $1,774,542.00 in Stock

PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) CEO Timothy J. Mcgrath sold 26,565 shares of PC Connection stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $66.80, for a total transaction of $1,774,542.00. Following the completion of the sale, the chief executive officer now owns 265,827 shares in the company, valued at approximately $17,757,243.60. This trade represents a 9.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PC Connection Trading Down 0.4%

NASDAQ:CNXN traded down $0.27 during mid-day trading on Friday, reaching $65.26. The company's stock had a trading volume of 135,024 shares, compared to its average volume of 98,808. PC Connection, Inc. has a 12-month low of $56.82 and a 12-month high of $77.19. The firm's fifty day moving average price is $64.05 and its two-hundred day moving average price is $67.10. The stock has a market cap of $1.66 billion, a P/E ratio of 19.84, a PEG ratio of 1.96 and a beta of 0.67.

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

PC Connection Dividend Announcement

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

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its position in shares of PC Connection by 178.7% during the 3rd quarter. Barclays PLC now owns 36,002 shares of the company's stock valued at $2,717,000 after purchasing an additional 23,084 shares during the last quarter. Rhumbline Advisers increased its position in shares of PC Connection by 0.4% during the 4th quarter. Rhumbline Advisers now owns 85,432 shares of the company's stock valued at $5,918,000 after purchasing an additional 298 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of PC Connection by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 63,842 shares of the company's stock valued at $4,422,000 after purchasing an additional 2,138 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of PC Connection by 8.8% during the 4th quarter. New York State Common Retirement Fund now owns 35,997 shares of the company's stock valued at $2,494,000 after purchasing an additional 2,900 shares during the last quarter. Finally, Ieq Capital LLC increased its position in shares of PC Connection by 3.5% during the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company's stock valued at $457,000 after purchasing an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.

Analyst Ratings Changes

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