Insider Selling: PC Connection, Inc. (NASDAQ:CNXN) Director Sells 1,000 Shares of Stock

PC Connection, Inc. (NASDAQ:CNXNGet Free Report) Director Barbara Duckett sold 1,000 shares of PC Connection stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $68.08, for a total value of $68,080.00. Following the completion of the sale, the director now directly owns 13,877 shares in the company, valued at approximately $944,746.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

PC Connection Stock Performance

Shares of CNXN stock opened at $69.31 on Wednesday. PC Connection, Inc. has a 52-week low of $42.37 and a 52-week high of $70.55. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 2.03 and a beta of 0.67. The firm’s 50-day moving average is $64.49 and its 200-day moving average is $64.60.

PC Connection (NASDAQ:CNXNGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.14). PC Connection had a return on equity of 10.10% and a net margin of 2.98%. The business had revenue of $632.03 million for the quarter, compared to analyst estimates of $694.19 million. During the same period last year, the firm earned $0.56 EPS. Sell-side analysts predict that PC Connection, Inc. will post 3.35 EPS for the current fiscal year.

PC Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Tuesday, May 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, May 13th. PC Connection’s dividend payout ratio is 12.82%.

Hedge Funds Weigh In On PC Connection

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in shares of PC Connection by 15,593.3% in the first quarter. Lazard Asset Management LLC now owns 2,354 shares of the company’s stock valued at $155,000 after purchasing an additional 2,339 shares during the period. Arizona State Retirement System acquired a new position in PC Connection in the 4th quarter valued at about $222,000. Jump Financial LLC bought a new position in PC Connection in the 3rd quarter valued at about $272,000. Acadian Asset Management LLC acquired a new stake in PC Connection during the first quarter worth approximately $281,000. Finally, Illinois Municipal Retirement Fund bought a new stake in shares of PC Connection during the third quarter worth approximately $332,000. 42.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, downgraded shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Friday, April 26th.

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PC Connection Company Profile

(Get Free Report)

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

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