Key Points
- PC Connection Chairman Patricia Gallup sold 7,142 shares for about $624,782, reducing her position by 0.10%; she retained nearly 6.9 million shares.
- The company reported quarterly EPS of $1.24, beating the $1.04 consensus estimate, and revenue of $874.31 million, above expectations.
- PC Connection announced a quarterly dividend of $0.20 per share, equivalent to a 1.0% annualized yield; analysts cited in the article rated the stock “Strong Buy” on average.
PC Connection, Inc. (NASDAQ:CNXN - Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the firm's stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $87.48, for a total value of $624,782.16. Following the completion of the transaction, the chairman owned 6,892,049 shares in the company, valued at $602,916,446.52. The trade was a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Patricia Gallup also recently made the following trade(s):
- On Wednesday, October 21st, Patricia Gallup sold 7,192 shares of PC Connection stock. The stock was sold at an average price of $87.20, for a total transaction of $627,142.40.
- On Tuesday, October 20th, Patricia Gallup sold 8,004 shares of PC Connection stock. The stock was sold at an average price of $86.57, for a total transaction of $692,906.28.
- On Tuesday, October 6th, Patricia Gallup sold 6,230 shares of PC Connection stock. The stock was sold at an average price of $92.08, for a total transaction of $573,658.40.
- On Monday, October 5th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $92.56, for a total transaction of $661,063.52.
- On Monday, September 14th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $85.42, for a total transaction of $610,069.64.
- On Tuesday, September 1st, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $78.96, for a total transaction 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 transaction of $561,646.88.
PC Connection Trading Down 9.3%
CNXN opened at $79.67 on Friday. The firm has a market capitalization of $2.01 billion, a PE ratio of 20.76, a PEG ratio of 1.97 and a beta of 0.83. PC Connection, Inc. has a twelve month low of $54.97 and a twelve month high of $96.90. The firm's 50-day moving average price is $87.34 and its 200 day moving average price is $72.86.
PC Connection (NASDAQ:CNXN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 28th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.20. The company had revenue of $874.31 million during the quarter, compared to analysts' expectations of $773.74 million. PC Connection had a net margin of 3.25% and a return on equity of 11.38%. As a group, analysts predict that PC Connection, Inc. will post 4.46 earnings per share for the current fiscal year.
PC Connection Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Tuesday, November 10th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, November 10th. PC Connection's payout ratio is currently 19.75%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of PC Connection in the second quarter valued at about $158,833,000. Dimensional Fund Advisors LP increased its position in PC Connection by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,526,494 shares of the company's stock worth $89,237,000 after purchasing an additional 4,345 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in PC Connection during the second quarter worth about $9,982,000. Denali Advisors LLC raised its stake in PC Connection by 19.1% during the second quarter. Denali Advisors LLC now owns 99,200 shares of the company's stock worth $7,241,000 after purchasing an additional 15,900 shares during the period. Finally, Man Group plc purchased a new position in PC Connection during the second quarter worth about $6,925,000. Institutional investors and hedge funds own 42.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on CNXN shares. Weiss Ratings upgraded PC Connection from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research upgraded PC Connection from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Strong Buy".
Get Our Latest Stock Report on CNXN
About PC Connection
(
Get Free Report)
PC Connection, Inc is an information technology solutions provider that supplies technology products, services and expertise to businesses, government agencies, educational institutions and other organizations. The company helps customers plan, acquire, deploy and manage IT environments across workplace, data center, networking, security and cloud infrastructure.
Its offerings include computers, servers, storage systems, networking equipment, software, peripherals and related technology accessories.
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