Insider Selling: PC Connection, Inc. (NASDAQ:CNXN) Chairman Sells 3,884 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXN – Get Rating) Chairman Patricia Gallup sold 3,884 shares of the company’s stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $45.70, for a total transaction of $177,498.80. Following the sale, the chairman now directly owns 2,131,559 shares of the company’s stock, valued at approximately $97,412,246.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, May 10th, Patricia Gallup sold 3,700 shares of PC Connection stock. The shares were sold at an average price of $47.26, for a total transaction of $174,862.00.
• On Monday, April 25th, Patricia Gallup sold 2,611 shares of PC Connection stock. The stock was sold at an average price of $49.59, for a total value of $129,479.49.
• On Tuesday, April 19th, Patricia Gallup sold 2,589 shares of PC Connection stock. The shares were sold at an average price of $52.12, for a total value of $134,938.68.
• On Wednesday, April 13th, Patricia Gallup sold 2,700 shares of PC Connection stock. The stock was sold at an average price of $52.65, for a total value of $142,155.00.
• On Tuesday, April 5th, Patricia Gallup sold 3,138 shares of PC Connection stock. The stock was sold at an average price of $52.61, for a total transaction of $165,090.18.
• On Thursday, March 24th, Patricia Gallup sold 852 shares of PC Connection stock. The shares were sold at an average price of $51.67, for a total value of $44,022.84.
• On Monday, March 7th, Patricia Gallup sold 1,800 shares of PC Connection stock. The shares were sold at an average price of $50.55, for a total value of $90,990.00.
• On Thursday, March 3rd, Patricia Gallup sold 1,444 shares of PC Connection stock. The stock was sold at an average price of $49.78, for a total transaction of $71,882.32.
• On Wednesday, February 23rd, Patricia Gallup sold 2,553 shares of PC Connection stock. The shares were sold at an average price of $48.18, for a total transaction of $123,003.54.

CNXN traded down $0.77 during midday trading on Friday, reaching $44.26. The company had a trading volume of 42,891 shares, compared to its average volume of 45,276. PC Connection, Inc. has a 12-month low of $40.08 and a 12-month high of $54.79. The business has a 50-day moving average price of $50.76 and a two-hundred day moving average price of $47.51. The stock has a market cap of $1.16 billion, a PE ratio of 14.53 and a beta of 0.65.

PC Connection (NASDAQ:CNXN – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.64 by $0.19. PC Connection had a return on equity of 11.90% and a net margin of 2.68%. During the same period in the prior year, the business earned $0.39 EPS. Analysts anticipate that PC Connection, Inc. will post 3.2 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in PC Connection by 1.2% in the 4th quarter. BlackRock Inc. now owns 2,393,075 shares of the company’s stock valued at $103,215,000 after acquiring an additional 29,104 shares during the period. Mawer Investment Management Ltd. lifted its stake in shares of PC Connection by 4.2% during the 1st quarter. Mawer Investment Management Ltd. now owns 1,976,093 shares of the company’s stock valued at $103,528,000 after buying an additional 78,958 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PC Connection by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 774,066 shares of the company’s stock worth $40,553,000 after buying an additional 22,765 shares during the period. State Street Corp grew its stake in PC Connection by 3.3% in the 4th quarter. State Street Corp now owns 453,695 shares of the company’s stock valued at $19,568,000 after buying an additional 14,413 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in PC Connection by 95.1% during the 3rd quarter. Invesco Ltd. now owns 313,512 shares of the company’s stock valued at $13,804,000 after acquiring an additional 152,809 shares during the period. 41.32% of the stock is owned by institutional investors.

A number of brokerages have issued reports on CNXN. StockNews.com started coverage on shares of PC Connection in a research report on Thursday, March 31st. They issued a “strong-buy” rating for the company. Sidoti raised PC Connection from a “neutral” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Monday, January 24th. Finally, Zacks Investment Research raised PC Connection from a “hold” rating to a “strong-buy” rating and set a $55.00 price objective on the stock in a research report on Monday, May 9th.

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.

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