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PC Connection, Inc. (NASDAQ:CNXN – Get Ratings) Chairman Patricia Gallup sold 4,800 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $52.07, for a total transaction of $249,936.00. After the transaction, the president now directly owns 7,135,362 shares in the company, valued at $371,538,299.34. The sale was disclosed in a document filed with the SEC, which can be accessed via this hyperlink.
Computer Connection Price Activity
CNXN traded up $0.45 during trading on Thursday, hitting $53.26. The firm had a trading volume of 36,280 shares, compared to its average volume of 44,122. The company has a market cap of $1.40 billion, a PE ratio of 14.93 and a beta of 0.70. The trade has a 50-day moving average of $48.07 and a 200-day moving average of $47.05. PC Connection, Inc. has a 1-year low of $40.08 and a 1-year high of $54.79.
Analysts Set New Price Targets
Separately, StockNews.com cut shares of PC Connection from a “strong-buy” rating to a “buy” rating in a research note on Friday, November 4th.
Hedge Funds Weigh On PC Connection
Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of PC Connection during the second quarter worth about $28,000. Tower Research Capital LLC TRC grew its position in shares of PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after acquiring an additional 290 shares during the last quarter. Covestor Ltd grew its position in shares of PC Connection by 2,189.7% during the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after acquiring an additional 854 shares during the last quarter. KBC Group NV bought a new position in shares of PC Connection during the second quarter worth about $41,000. Finally, Mutual of America Capital Management LLC grew its position in PC Connection by 16.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 1,853 shares of the company’s stock valued at $82,000 after purchasing an additional 268 shares in the last quarter. Institutional investors own 41.32% of the company’s shares.
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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