Key Points
- Chairman Patricia Gallup sold 7,142 PC Connection shares at an average price of $85.42, generating $610,069.64. She retained 6,934,901 shares, with the transaction reducing her ownership by 0.10%.
- Gallup has made several similar sales since June, selling 42,852 shares in total across six transactions at prices ranging from $69.73 to $86.34.
- PC Connection recently exceeded earnings expectations, reporting quarterly EPS of $1.31 versus the $1.00 consensus and revenue of $854 million versus $764.79 million expected. Analysts maintain a “Strong Buy” average rating, while the company pays a $0.20 quarterly dividend.
PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the company's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $85.42, for a total value of $610,069.64. Following the transaction, the chairman directly owned 6,934,901 shares of the company's stock, valued at approximately $592,379,243.42. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Patricia Gallup also recently made the following trade(s):
- On Tuesday, September 1st, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $78.96, for a total value of $563,932.32.
- 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 stock was 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 transaction of $520,366.12.
- On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $69.73, for a total value of $498,011.66.
PC Connection Stock Performance
CNXN opened at $87.12 on Thursday. The business's 50-day simple moving average is $81.35 and its 200-day simple moving average is $70.95. PC Connection, Inc. has a one year low of $54.97 and a one year high of $88.35. The stock has a market capitalization of $2.20 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 2.04 and a beta of 0.85.
PC Connection (NASDAQ:CNXN - Get Free Report) last posted 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 business had revenue of $854.00 million during the quarter, compared to the consensus estimate of $764.79 million. PC Connection had a return on equity of 10.90% and a net margin of 3.21%. On average, equities research analysts forecast that PC Connection, Inc. will post 4.18 EPS for the current fiscal year.
PC Connection Dividend Announcement
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 annualized dividend and a yield of 0.9%. PC Connection's payout ratio is 21.16%.
Institutional Investors Weigh In On PC Connection
Several hedge funds have recently made changes to their positions in the business. Tidal Investments LLC purchased a new stake in PC Connection during the 2nd quarter valued at approximately $711,000. Arizona State Retirement System purchased a new position in shares of PC Connection in the 2nd quarter valued at approximately $229,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of PC Connection in the 2nd quarter valued at approximately $1,468,000. Public Employees Retirement System of Ohio acquired a new position in shares of PC Connection in the second quarter valued at approximately $608,000. Finally, Bank of America Corp DE acquired a new position in shares of PC Connection in the second quarter valued at approximately $3,080,000. Institutional investors and hedge funds own 42.85% of the company's stock.
Analyst Ratings Changes
CNXN has been the subject of several research analyst reports. Weiss Ratings raised PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, July 30th. Zacks Research raised shares of PC Connection from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy".
View Our Latest Stock Analysis on CNXN
About PC Connection
(
Get Free Report)
PC Connection, Inc (NASDAQ: CNXN) is an information technology solutions provider serving businesses, government agencies, educational institutions and other organizations. The company supplies technology products and provides services designed to help customers plan, implement and manage their IT environments.
Its offerings include computers and mobile devices, servers, storage systems, networking equipment, software, peripherals and communications products. PC Connection also provides professional and lifecycle services, including consulting, systems integration, cloud and data-center solutions, cybersecurity, managed services, deployment, configuration and technical support.
Founded in 1982, the company operates primarily in the United States through brands and business units that include Connection, GovConnection and MoreDirect.
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