Insider Selling: PC Connection, Inc. (NASDAQ:CNXN) Chairman Sells 3,133 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN – Get Rating) Chairman Patricia Gallup sold 3,133 shares of the stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $47.94, for a total transaction of $150,196.02. Following the transaction, the chairman now owns 7,082,609 shares in the company, valued at $339,540,275.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, January 5th, Patricia Gallup sold 3,290 shares of PC Connection stock. The shares were sold at an average price of $46.63, for a total transaction of $153,412.70.
• On Wednesday, December 14th, Patricia Gallup sold 2,433 shares of PC Connection stock. The shares were sold at an average price of $51.37, for a total transaction of $124,983.21.
• 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 Up 1.8 %

Shares of NASDAQ CNXN traded up $0.86 during midday trading on Friday, reaching $49.76. The company had a trading volume of 24,452 shares, compared to its average volume of 62,984. The business’s 50-day simple moving average is $50.57 and its 200 day simple moving average is $48.51. The stock has a market cap of $1.31 billion, a P/E ratio of 14.15 and a beta of 0.75. PC Connection, Inc. it has a 1 year low of $40.08 and a 1 year high of $56.68.

PC Connection (NASDAQ:CNXN – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.88 earnings per share (EPS) for the quarter, topping 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 business had revenue of $775.69 million during the quarter, compared to analysts’ expectations of $814.24 million. Analysts predict 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 was paid on Friday, December 23rd. Investors of record on Monday, December 5th were issued a dividend of $0.34 per share. The ex-dividend date was Friday, December 2nd. This represents a dividend yield of 0.61%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new position in shares of PC Connection during the second quarter worth $28,000. Tower Research Capital LLC TRC increased its holdings in PC Connection by 62.4% in the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock valued at $35,000 after buying an additional 290 shares in the last quarter. Covestor Ltd increased its holdings in PC Connection by 2,189.7% in the first quarter. Covestor Ltd now owns 893 shares of the company’s stock valued at $47,000 after buying an additional 854 shares in the last quarter. KBC Group NV purchased a new position in PC Connection in the second quarter valued at $41,000. Finally, Mutual of America Capital Management LLC increased its holdings 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 valued at $82,000 after buying an additional 268 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

PC Connection Company Profile

(Get Rating)

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.

Further Reading

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