PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of PC Connection stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $72.86, for a total value of $520,366.12. Following the sale, the chairman directly owned 7,006,321 shares in the company, valued at approximately $510,480,548.06. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Patricia Gallup also recently made the following trade(s):
- On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $69.73, for a total value of $498,011.66.
- On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The stock was sold at an average price of $71.91, for a total value of $530,983.44.
- On Monday, June 8th, Patricia Gallup sold 6,924 shares of PC Connection stock. The shares were sold at an average price of $72.09, for a total value of $499,151.16.
PC Connection Trading Up 0.8%
Shares of NASDAQ CNXN opened at $74.90 on Thursday. The firm has a 50-day moving average of $69.01 and a two-hundred day moving average of $63.41. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 1.89 and a beta of 0.88. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $75.30.
PC Connection (NASDAQ:CNXN - Get Free Report) last released its earnings results on Wednesday, April 29th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.15. PC Connection had a net margin of 3.02% and a return on equity of 10.17%. The business had revenue of $721.87 million for the quarter, compared to the consensus estimate of $696.09 million. As a group, research analysts predict that PC Connection, Inc. will post 3.93 earnings per share for the current year.
PC Connection Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Tuesday, May 12th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, May 12th. PC Connection's payout ratio is presently 23.26%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the company. Wall Street Zen upgraded PC Connection from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Weiss Ratings upgraded PC Connection from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, PC Connection has an average rating of "Moderate Buy".
Read Our Latest Analysis on PC Connection
Institutional Trading of PC Connection
A number of hedge funds have recently modified their holdings of the business. Amundi acquired a new position in PC Connection during the first quarter valued at $519,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PC Connection by 4.7% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company's stock worth $431,000 after acquiring an additional 312 shares in the last quarter. Millennium Management LLC boosted its position in PC Connection by 98.8% during the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company's stock worth $7,193,000 after acquiring an additional 57,257 shares during the period. Invesco Ltd. grew its stake in PC Connection by 2.4% during the 2nd quarter. Invesco Ltd. now owns 179,487 shares of the company's stock valued at $11,807,000 after acquiring an additional 4,146 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in PC Connection by 625.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company's stock valued at $38,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company's stock.
About PC Connection
(
Get Free Report)
PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.
Connection's product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.
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