PC Connection, Inc. (NASDAQ:CNXN) Director Sells $350,000.00 in Stock

PC Connection, Inc. (NASDAQ:CNXN) Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 71,750 shares in the company, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

PC Connection Trading Up 1.4 %

Shares of NASDAQ:CNXN traded up $1.01 during trading on Friday, hitting $72.74. 55,532 shares of the stock were exchanged, compared to its average volume of 80,219. The company has a fifty day moving average price of $72.29 and a two-hundred day moving average price of $68.97. PC Connection, Inc. has a 12-month low of $57.47 and a 12-month high of $77.19. The company has a market cap of $1.91 billion, a PE ratio of 21.25, a P/E/G ratio of 2.06 and a beta of 0.63.

PC Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $0.40 annualized dividend and a dividend yield of 0.55%. PC Connection’s dividend payout ratio is currently 11.73%.

Institutional Investors Weigh In On PC Connection

A number of large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. lifted its position in shares of PC Connection by 23.6% in the second quarter. Pacer Advisors Inc. now owns 1,258,275 shares of the company’s stock valued at $80,781,000 after acquiring an additional 240,312 shares in the last quarter. Vanguard Group Inc. lifted its holdings in PC Connection by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after purchasing an additional 14,838 shares in the last quarter. State Street Corp grew its stake in shares of PC Connection by 7.4% during the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares during the period. Geode Capital Management LLC increased its holdings in shares of PC Connection by 7.2% during the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock worth $26,113,000 after buying an additional 23,358 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of PC Connection by 31.1% in the 2nd quarter. American Century Companies Inc. now owns 262,993 shares of the company’s stock worth $16,884,000 after buying an additional 62,398 shares during the period. Institutional investors and hedge funds own 42.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday.

PC Connection Company Profile

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.