PC Connection, Inc. (NASDAQ:CNXN – Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the stock in a transaction on Tuesday, June 23rd. The stock was sold at an average price of $69.73, for a total transaction of $498,011.66. Following the transaction, the chairman directly owned 7,020,605 shares in the company, valued at $489,546,786.65. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Patricia Gallup also recently made the following trade(s):
- On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The shares were sold at an average price of $71.91, for a total value of $530,983.44.
- On Monday, June 8th, Patricia Gallup sold 6,924 shares of PC Connection stock. The stock was sold at an average price of $72.09, for a total value of $499,151.16.
PC Connection Stock Performance
CNXN opened at $71.31 on Friday. The company has a market cap of $1.80 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88. The stock has a 50-day moving average of $67.54 and a 200-day moving average of $62.65. PC Connection, Inc. has a 52-week low of $54.97 and a 52-week high of $75.00.
PC Connection Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Tuesday, May 12th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. PC Connection’s dividend payout ratio (DPR) is currently 23.26%.
Institutional Trading of PC Connection
Several hedge funds have recently added to or reduced their stakes in the business. Martingale Asset Management L P increased its position in PC Connection by 1.3% in the 4th quarter. Martingale Asset Management L P now owns 19,137 shares of the company’s stock worth $1,105,000 after buying an additional 252 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of PC Connection by 4.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,900 shares of the company’s stock valued at $431,000 after acquiring an additional 312 shares during the period. Franklin Resources Inc. boosted its position in shares of PC Connection by 8.2% in the third quarter. Franklin Resources Inc. now owns 4,616 shares of the company’s stock valued at $286,000 after acquiring an additional 348 shares during the period. WINTON GROUP Ltd grew its stake in shares of PC Connection by 6.7% in the fourth quarter. WINTON GROUP Ltd now owns 6,257 shares of the company’s stock worth $361,000 after acquiring an additional 394 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of PC Connection by 1.8% in the fourth quarter. Swiss National Bank now owns 22,500 shares of the company’s stock worth $1,300,000 after acquiring an additional 400 shares during the last quarter. Institutional investors own 42.85% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Weiss Ratings upgraded shares of PC Connection from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Wall Street Zen upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.
Read Our Latest Stock Analysis on PC Connection
PC Connection Company Profile
PC Connection, Inc (NASDAQ: CNXN), now operating under the trade name Connection, is a value-added provider of information technology solutions founded in 1982 and headquartered in Merrimack, New Hampshire. The company offers a broad portfolio of hardware and software products sourced from leading technology vendors, alongside professional services designed to help organizations design, deploy and maintain IT environments.
Connection’s product offerings encompass desktop and notebook computers, servers and storage systems, networking and cybersecurity solutions, as well as cloud and virtualization technologies.
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