PC Connection (NASDAQ:CNXN) Stock: Insider Patricia Gallup Sells 6,230 Shares

PC Connection, Inc. (NASDAQ:CNXN) Chairman Patricia Gallup sold 6,230 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The stock was sold at an average price of $92.08, for a total value of $573,658.40. Following the transaction, the chairman directly owned 6,914,387 shares in the company, valued at approximately $636,676,754.96. This represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Patricia Gallup also recently made the following trade(s):

• 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 value of $661,063.52.
• On Monday, September 14th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $85.42, for a total value of $610,069.64.
• 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 shares were 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.

PC Connection Stock Down 0.4%

Shares of NASDAQ CNXN traded down $0.41 during mid-day trading on Wednesday, hitting $91.98. 123,296 shares of the company were exchanged, compared to its average volume of 115,422. The stock has a 50 day simple moving average of $84.17 and a 200-day simple moving average of $73.82. PC Connection, Inc. has a 1-year low of $54.97 and a 1-year high of $93.89. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.21 and a beta of 0.81.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.31. The company had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $764.79 million. PC Connection had a net margin of 3.21% and a return on equity of 10.90%. 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. Stockholders of record on Tuesday, August 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, August 11th. PC Connection’s payout ratio is 21.16%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CNXN. Weiss Ratings cut PC Connection from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Zacks Research lowered shares of PC Connection from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, PC Connection has a consensus rating of “Moderate Buy”.

Institutional Investors Weigh In On PC Connection

Hedge funds and other institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in shares of PC Connection by 200.4% during 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. purchased a new position in PC Connection in the 1st quarter valued at approximately $44,000. Quantbot Technologies LP purchased a new position in PC Connection in the 2nd quarter valued at approximately $105,000. Fifth Third Bancorp raised its holdings in PC Connection by 1,551.2% during the first quarter. Fifth Third Bancorp now owns 2,675 shares of the company’s stock worth $156,000 after purchasing an additional 2,513 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in PC Connection during the second quarter worth $229,000. 42.85% of the stock is currently owned by institutional investors and hedge funds.

About PC Connection

PC Connection, Inc is an information technology solutions provider that supplies computer hardware, software, networking equipment, peripherals and related technology products to organizations in the United States. The company serves businesses, government agencies and educational institutions through its Connection brand and online and sales channels.

In addition to product distribution, PC Connection provides technology services designed to help customers plan, deploy and manage IT environments.