Patricia Gallup Sells 2,100 Shares of PC Connection, Inc. (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN – Get Rating) Chairman Patricia Gallup sold 2,100 shares of the business’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $55.54, for a total value of $116,634.00. Following the completion of the transaction, the chairman now directly owns 7,123,122 shares in the company, valued at approximately $395,618,195.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

On Monday, November 21st, Patricia Gallup sold 3,290 shares of PC Connection stock. The stock was sold at an average price of $54.07, for a total value of $177,890.30.
On Tuesday, November 15th, Patricia Gallup sold 4,800 shares of PC Connection stock. The stock was sold at an average price of $52.07, for a total value of $249,936.00.

PC Connection Price Performance

Shares of CNXN stock traded down $1.07 on Monday, reaching $53.68. 41,476 shares of the stock were exchanged, compared to its average volume of 44,378. The stock has a market cap of $1.41 billion, a PE ratio of 15.20 and a beta of 0.70. PC Connection, Inc. has a one year low of $40.08 and a one year high of $56.68. The stock has a 50 day moving average price of $50.09 and a 200 day moving average price of $47.66.

PC Connection Cuts Dividend

The company also recently announced a dividend, which will be paid on Friday, December 23rd. Stockholders of record on Monday, December 5th will be given a dividend of $0.34 per share. The ex-dividend date is Friday, December 2nd. This represents a dividend yield of 0.61%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded PC Connection from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 4th.

Institutional Investors Weigh In On PC Connection

A number of institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of PC Connection by 0.5% during the third quarter. BlackRock Inc. now owns 2,424,211 shares of the company’s stock worth $109,309,000 after acquiring an additional 11,723 shares during the last quarter. Vanguard Group Inc. increased its holdings in PC Connection by 8.5% in the third quarter. Vanguard Group Inc. now owns 869,443 shares of the company’s stock valued at $39,204,000 after purchasing an additional 68,430 shares during the last quarter. State Street Corp increased its holdings in PC Connection by 2.2% in the second quarter. State Street Corp now owns 419,608 shares of the company’s stock valued at $18,484,000 after purchasing an additional 8,834 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in PC Connection by 11.1% in the second quarter. Goldman Sachs Group Inc. now owns 211,969 shares of the company’s stock valued at $9,338,000 after purchasing an additional 21,093 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in PC Connection by 5.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 197,678 shares of the company’s stock valued at $10,356,000 after purchasing an additional 10,520 shares during the last quarter. Institutional investors own 41.32% of the company’s stock.

PC Connection Company Profile

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PC Connection, Inc., together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.