PC Connection (NASDAQ:CNXN – Get Rating) was downgraded by StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Monday.
PC Connection Trading Up 2.0 %
NASDAQ:CNXN traded up $0.89 during trading hours on Monday, hitting $46.27. 30,159 shares of the company traded hands, compared to its average volume of 45,639. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 13.61 and a beta of 0.62. PC Connection has a twelve month low of $40.08 and a twelve month high of $54.79. The firm has a 50-day moving average of $47.98 and a 200 day moving average of $48.09.
Insider Buying and Selling at PC Connection
In other PC Connection news, Director Jack L. Ferguson sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $46.36, for a total value of $185,440.00. Following the sale, the director now owns 77,680 shares of the company’s stock, valued at approximately $3,601,244.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PC Connection news, Director Jack L. Ferguson sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $46.36, for a total value of $185,440.00. Following the sale, the director now owns 77,680 shares of the company’s stock, valued at approximately $3,601,244.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Patricia Gallup sold 2,700 shares of the business’s stock in a transaction on Wednesday, June 22nd. The shares were sold at an average price of $44.20, for a total transaction of $119,340.00. Following the completion of the sale, the chairman now directly owns 2,104,663 shares in the company, valued at approximately $93,026,104.60. The disclosure for this sale can be found here. Insiders have sold 17,070 shares of company stock valued at $770,285 in the last 90 days. 57.50% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On PC Connection
Large investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of PC Connection in the 2nd quarter worth about $28,000. Covestor Ltd grew its holdings in shares of PC Connection by 2,189.7% in the 1st quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after purchasing an additional 854 shares during the last quarter. KBC Group NV bought a new stake in shares of PC Connection in the 2nd quarter worth about $41,000. Mutual of America Capital Management LLC grew its holdings in shares of PC Connection by 16.9% in the 2nd 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 during the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of PC Connection in the 2nd quarter worth about $92,000. Institutional investors own 41.32% of the company’s stock.
About PC Connection
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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.
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