PC Connection, Inc. (NASDAQ:CNXN – Get Rating) Chairman Patricia Gallup sold 3,290 shares of the business’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $46.63, for a total value of $153,412.70. Following the sale, the chairman now directly owns 7,089,032 shares of the company’s stock, valued at approximately $330,561,562.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Patricia Gallup also recently made the following trade(s):
- On Wednesday, December 14th, Patricia Gallup sold 2,433 shares of PC Connection stock. The stock was sold at an average price of $51.37, for a total value 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 value 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 value 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 value 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 value of $249,936.00.
PC Connection Price Performance
Shares of CNXN stock traded down $0.36 during trading on Monday, hitting $46.81. 42,349 shares of the stock traded hands, compared to its average volume of 85,690. The firm has a market capitalization of $1.23 billion, a P/E ratio of 13.30 and a beta of 0.75. PC Connection, Inc. it has a 52-week low of $40.08 and a 52-week high of $56.68. The firm’s fifty day moving average price is $50.81 and its 200-day moving average price is $48.49.
PC Connection (NASDAQ:CNXN – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. PC Connection had a return on equity of 12.90% and a net margin of 2.91%. The business had revenue of $775.69 million for the quarter, compared to analyst estimates of $814.24 million. As a group, equities research analysts expect that PC Connection, Inc. will post 3.42 earnings per share for the current year.
PC Connection Cuts Dividend
The business also recently disclosed a dividend, which was paid on Friday, December 23rd. Shareholders of record on Monday, December 5th were paid a $0.34 dividend. The ex-dividend date of this dividend was Friday, December 2nd. This represents a yield of 0.61%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Monday, January 2nd.
Hedge Funds Weigh In On PC Connection
Large investors have recently bought and sold shares of the stock. Lazard Asset Management LLC acquired a new stake in shares of PC Connection during the second quarter worth about $28,000. Tower Research Capital LLC TRC raised its holdings in PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after purchasing an additional 290 shares in the last quarter. KBC Group NV purchased a new position in PC Connection during the second quarter worth about $41,000. Covestor Ltd raised its holdings in PC Connection by 2,189.7% during the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after purchasing an additional 854 shares in the last quarter. Finally, Mutual of America Capital Management LLC raised its holdings in PC Connection by 16.9% during the second quarter. Mutual of America Capital Management LLC now owns 1,853 shares of the company’s stock worth $82,000 after purchasing an additional 268 shares in the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.
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.
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