Insider Selling: PC Connection, Inc. (NASDAQ:CNXN) Chairman Sells 2,433 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN – Get Rating) Chairman Patricia Gallup sold 2,433 shares of the stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $51.37, for a total transaction of $124,983.21. Following the sale, the chairman now directly owns 7,112,333 shares of the company’s stock, valued at $365,360,546.21. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

On Wednesday, December 7th, Patricia Gallup sold 3,000 shares of PC Connection stock. The shares were sold at an average price of $52.31, for a total transaction of $156,930.00.
On Thursday, December 1st, Patricia Gallup sold 2,100 shares of PC Connection stock. The shares were sold at an average price of $55.54, for a total transaction of $116,634.00.
On Monday, November 21st, Patricia Gallup sold 3,290 shares of PC Connection stock. The shares were sold at an average price of $54.07, for a total transaction of $177,890.30.
On Tuesday, November 15th, Patricia Gallup sold 4,800 shares of PC Connection stock. The shares were sold at an average price of $52.07, for a total transaction of $249,936.00.

PC Connection Trading Down 1.1 %

Shares of CNXN stock traded down $0.55 on Friday, reaching $48.42. The company’s stock had a trading volume of 194,911 shares, compared to its average volume of 45,407. The stock’s fifty day simple moving average is $51.06 and its 200-day simple moving average is $48.06. PC Connection, Inc. it has a 1 year low of $40.08 and a 1 year high of $56.68. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 13.91 and a beta of 0.70.

PC Connection (NASDAQ:CNXN – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. PC Connection had a net margin of 2.91% and a return on equity of 12.90%. The firm had revenue of $775.69 million during the quarter, compared to analyst estimates of $814.24 million. Equities research analysts forecast that PC Connection, Inc. will post 3.42 earnings per share for the current year.

PC Connection Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 23rd. Investors of record on Monday, December 5th will be issued a $0.34 dividend. This represents a dividend yield of 0.61%. The ex-dividend date of this dividend is Friday, December 2nd.

Analyst Ratings Changes

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

Institutional Trading of PC Connection

Institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC bought a new stake in PC Connection in the second quarter worth $28,000. Tower Research Capital LLC TRC lifted its position in PC Connection by 62.4% in the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after buying an additional 290 shares during the last quarter. KBC Group NV bought a new stake in PC Connection in the second quarter worth $41,000. Covestor Ltd lifted its position in PC Connection by 2,189.7% in the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after buying an additional 854 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in PC Connection by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 1,853 shares of the company’s stock worth $82,000 after buying an additional 268 shares during the last quarter. 41.32% of the stock is currently owned by institutional investors.

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.