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 the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the transaction, the director now directly owns 71,750 shares in the company, valued at $5,022,500. The trade was a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

PC Connection Stock Performance

Shares of NASDAQ CNXN opened at $72.74 on Monday. The company has a market cap of $1.91 billion, a PE ratio of 21.33, a P/E/G ratio of 2.12 and a beta of 0.63. PC Connection, Inc. has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The business has a 50-day simple moving average of $72.29 and a two-hundred day simple moving average of $69.12.

PC Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Tuesday, November 12th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. PC Connection’s dividend payout ratio (DPR) is 11.73%.

Analysts Set New Price Targets

Separately, StockNews.com lowered PC Connection from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th.

Hedge Funds Weigh In On PC Connection

Hedge funds and other institutional investors have recently bought and sold shares of the business. Martingale Asset Management L P grew its stake in shares of PC Connection by 0.4% during the 3rd quarter. Martingale Asset Management L P now owns 37,098 shares of the company’s stock worth $2,798,000 after purchasing an additional 140 shares during the period. Amalgamated Bank boosted its position in PC Connection by 4.6% during the third quarter. Amalgamated Bank now owns 3,521 shares of the company’s stock worth $266,000 after purchasing an additional 154 shares in the last quarter. New York State Teachers Retirement System grew its holdings in PC Connection by 4.9% in the third quarter. New York State Teachers Retirement System now owns 4,613 shares of the company’s stock valued at $348,000 after purchasing an additional 216 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of PC Connection by 5.3% during the third quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the company’s stock worth $453,000 after purchasing an additional 300 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in PC Connection during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

About PC Connection

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.