PC Connection, Inc. (NASDAQ:CNXN) Chairman Sells $119,424.00 in Stock

PC Connection, Inc. (NASDAQ:CNXNGet Rating) Chairman Patricia Gallup sold 2,400 shares of the stock in a transaction on Thursday, January 19th. The shares were sold at an average price of $49.76, for a total value of $119,424.00. Following the transaction, the chairman now directly owns 7,078,409 shares in the company, valued at $352,221,631.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Wednesday, January 11th, Patricia Gallup sold 3,133 shares of PC Connection stock. The shares were sold at an average price of $47.94, for a total value of $150,196.02.
  • 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 value of $153,412.70.
  • 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 stock was 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 stock was 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 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 Stock Performance

Shares of CNXN stock opened at $49.55 on Tuesday. PC Connection, Inc. has a 52-week low of $41.60 and a 52-week high of $56.68. The firm has a market capitalization of $1.30 billion, a PE ratio of 14.08 and a beta of 0.75. The stock has a fifty day simple moving average of $50.58 and a two-hundred day simple moving average of $48.87.

PC Connection (NASDAQ:CNXNGet Rating) last issued 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 return on equity of 12.90% and a net margin of 2.91%. The business had revenue of $775.69 million during the quarter, compared to analyst estimates of $814.24 million. On average, sell-side analysts forecast that PC Connection, Inc. will post 3.42 EPS for the current fiscal year.

PC Connection Cuts Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com lowered PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 18th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNXN. Bank of New York Mellon Corp grew its position in shares of PC Connection by 0.4% during the first quarter. Bank of New York Mellon Corp now owns 146,379 shares of the company’s stock valued at $7,669,000 after purchasing an additional 587 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of PC Connection during the first quarter valued at about $242,000. Citigroup Inc. grew its position in shares of PC Connection by 11.7% during the first quarter. Citigroup Inc. now owns 9,570 shares of the company’s stock valued at $501,000 after purchasing an additional 1,006 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of PC Connection during the first quarter valued at about $172,000. Finally, MetLife Investment Management LLC grew its position in shares of PC Connection by 64.0% during the first quarter. MetLife Investment Management LLC now owns 5,816 shares of the company’s stock valued at $305,000 after purchasing an additional 2,269 shares in the last quarter. Hedge funds and other institutional investors own 42.51% of the company’s stock.

About PC Connection

(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

Insider Buying and Selling by Quarter for PC Connection (NASDAQ:CNXN)

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