PC Connection, Inc. (NASDAQ:CNXN – Get Free Report) Chairman Patricia Gallup sold 7,142 shares of the business’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $78.64, for a total transaction of $561,646.88. Following the sale, the chairman directly owned 6,963,469 shares in the company, valued at $547,607,202.16. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Patricia Gallup also recently made the following trade(s):
- On Tuesday, August 4th, Patricia Gallup sold 7,142 shares of PC Connection stock. The stock was sold at an average price of $86.34, for a total value of $616,640.28.
- On Monday, July 6th, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $72.86, for a total value of $520,366.12.
- On Tuesday, June 23rd, Patricia Gallup sold 7,142 shares of PC Connection stock. The shares were sold at an average price of $69.73, for a total value of $498,011.66.
- On Tuesday, June 9th, Patricia Gallup sold 7,384 shares of PC Connection stock. The stock was 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 shares were sold at an average price of $72.09, for a total value of $499,151.16.
PC Connection Trading Down 1.2%
Shares of PC Connection stock opened at $77.95 on Thursday. PC Connection, Inc. has a 12-month low of $54.97 and a 12-month high of $88.31. The company has a market cap of $1.97 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 1.89 and a beta of 0.86. The company’s 50-day moving average price is $77.34 and its 200-day moving average price is $68.22.
PC Connection Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Tuesday, August 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.80 annualized dividend and a yield of 1.0%. PC Connection’s dividend payout ratio (DPR) is currently 21.16%.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on the company. Wall Street Zen upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Weiss Ratings upgraded PC Connection from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, July 30th. Finally, Zacks Research raised PC Connection from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Strong Buy”.
Get Our Latest Research Report on PC Connection
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its stake in PC Connection by 625.0% during the second quarter. EverSource Wealth Advisors LLC now owns 580 shares of the company’s stock worth $38,000 after purchasing an additional 500 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of PC Connection by 196.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 629 shares of the company’s stock valued at $39,000 after purchasing an additional 417 shares during the last quarter. Parallel Advisors LLC increased its position in shares of PC Connection by 200.4% during the 1st quarter. Parallel Advisors LLC now owns 709 shares of the company’s stock valued at $41,000 after purchasing an additional 473 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of PC Connection during the 1st quarter valued at about $44,000. Finally, Quarry LP purchased a new position in shares of PC Connection during the 3rd quarter valued at about $75,000. Institutional investors own 42.85% of the company’s stock.
About PC Connection
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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