Key Points
- Chairman Patricia Gallup sold 7,142 PC Connection shares for approximately $563,932, reducing her position by 0.10% to 6.95 million shares. The sale continues a series of insider share disposals since June.
- PC Connection shares opened at $83.53, with a market capitalization of about $2.11 billion and a 52-week range of $54.97 to $88.31. The company recently reported quarterly EPS of $1.31, exceeding estimates of $1.00, and revenue of $854 million.
- The company pays a quarterly dividend of $0.20 per share, equivalent to an annualized $0.80 and a 1.0% yield. Analysts remain positive, with the stock carrying an average “Strong Buy” rating, while institutional investors own 42.85% of shares.
PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $78.96, for a total value of $563,932.32. Following the sale, the chairman owned 6,949,185 shares of the company's stock, valued at approximately $548,707,647.60. This represents a 0.10% decrease in their position. The sale 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 Monday, August 17th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $78.64, for a total value of $561,646.88.
- On Tuesday, August 4th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $86.34, for a total value of $616,640.28.
- On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $72.86, for a total value 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 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 transaction of $499,151.16.
PC Connection Stock Up 3.2%
Shares of PC Connection stock opened at $83.53 on Friday. The company has a 50 day moving average price of $79.28 and a 200 day moving average price of $69.48. The firm has a market capitalization of $2.11 billion, a P/E ratio of 22.10, a PEG ratio of 1.94 and a beta of 0.85. PC Connection, Inc. has a 52 week low of $54.97 and a 52 week high of $88.31.
PC Connection (NASDAQ:CNXN - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.00 by $0.31. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. The business had revenue of $854.00 million for the quarter, compared to analyst estimates of $764.79 million. As a group, research analysts anticipate that PC Connection, Inc. will post 4.18 earnings per share for the current fiscal year.
PC Connection Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. PC Connection's payout ratio is currently 21.16%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Zacks Research upgraded PC Connection from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Strong Buy".
Check Out Our Latest Stock Analysis on PC Connection
Institutional Trading of PC Connection
Several institutional investors have recently bought and sold shares of CNXN. EverSource Wealth Advisors LLC lifted its position in shares of 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 buying an additional 500 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in PC Connection by 196.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company's stock worth $39,000 after acquiring an additional 417 shares in the last quarter. Parallel Advisors LLC increased its holdings in PC Connection by 200.4% in the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company's stock worth $41,000 after acquiring an additional 473 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in PC Connection during the first quarter worth $44,000. Finally, Quarry LP acquired a new position in PC Connection during the third quarter worth $75,000. 42.85% of the stock is owned by institutional investors and hedge funds.
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.
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