Key Points
- PC Connection Chairman Patricia Gallup sold 7,142 shares at an average price of $78.64, generating $561,646.88. She continues to own 6.96 million shares, and has made several additional stock sales since June.
- The company reported quarterly earnings of $1.31 per share, beating estimates of $1.00, while revenue of $854 million exceeded expectations of $764.79 million.
- PC Connection announced a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 dividend and a 1.0% yield. Analysts cited in the article have a consensus “Strong Buy” rating.
PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the company's stock in a transaction on Monday, August 17th. The shares were sold at an average price of $78.64, for a total transaction of $561,646.88. Following the completion of the sale, the chairman directly owned 6,963,469 shares of the company's stock, valued at $547,607,202.16. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Patricia Gallup also recently made the following trade(s):
- On Tuesday, August 4th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $86.34, for a total transaction of $616,640.28.
- On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $72.86, for a total transaction of $520,366.12.
- 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 transaction of $498,011.66.
- On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The shares were 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 stock was sold at an average price of $72.09, for a total value of $499,151.16.
PC Connection Trading Down 1.2%
NASDAQ CNXN opened at $77.95 on Thursday. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $88.31. The stock has a 50-day moving average of $77.34 and a 200-day moving average of $68.22. The firm has a market cap of $1.97 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 1.89 and a beta of 0.86.
PC Connection (NASDAQ:CNXN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.31. The company had revenue of $854.00 million during the quarter, compared to analysts' expectations of $764.79 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. As a group, equities research analysts forecast that PC Connection, Inc. will post 4.18 earnings per share for the current fiscal year.
PC Connection Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Tuesday, August 11th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, August 11th. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. PC Connection's dividend payout ratio (DPR) is currently 21.16%.
Institutional Trading of PC Connection
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Martingale Asset Management L P boosted its position in shares of PC Connection by 1.3% during the fourth quarter. Martingale Asset Management L P now owns 19,137 shares of the company's stock valued at $1,105,000 after purchasing an additional 252 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of PC Connection by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company's stock valued at $431,000 after buying an additional 312 shares in the last quarter. Franklin Resources Inc. grew its position in shares of PC Connection by 8.2% in the 3rd quarter. Franklin Resources Inc. now owns 4,616 shares of the company's stock worth $286,000 after buying an additional 348 shares during the period. WINTON GROUP Ltd increased its stake in shares of PC Connection by 6.7% during the fourth quarter. WINTON GROUP Ltd now owns 6,257 shares of the company's stock valued at $361,000 after purchasing an additional 394 shares in the last quarter. Finally, Swiss National Bank increased its position in PC Connection by 1.8% during the 4th quarter. Swiss National Bank now owns 22,500 shares of the company's stock valued at $1,300,000 after buying an additional 400 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CNXN. Weiss Ratings upgraded shares of PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, July 30th. Wall Street Zen raised PC Connection from a "hold" rating to a "buy" rating in a research report on Saturday, May 2nd. Finally, Zacks Research upgraded PC Connection from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, PC Connection has a consensus rating of "Strong Buy".
Check Out Our Latest Stock Report on PC Connection
PC Connection Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
