Negrini David Beffa Sells 3,477 Shares of PC Connection, Inc. (CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN) Director Negrini David Beffa sold 3,477 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $32.00, for a total value of $111,264.00. Following the sale, the director now owns 126,823 shares in the company, valued at $4,058,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

CNXN stock traded up $0.14 during trading on Thursday, hitting $31.70. The company had a trading volume of 1,300 shares, compared to its average volume of 43,753. The firm has a market cap of $848.80 million, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.63 and a beta of 1.43. PC Connection, Inc. has a fifty-two week low of $22.66 and a fifty-two week high of $32.00.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $624.90 million for the quarter, compared to analyst estimates of $689.01 million. PC Connection had a return on equity of 11.19% and a net margin of 2.05%. PC Connection’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. research analysts anticipate that PC Connection, Inc. will post 2.44 EPS for the current year.

CNXN has been the topic of several recent analyst reports. Zacks Investment Research raised PC Connection from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research note on Wednesday, February 21st. BidaskClub raised PC Connection from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 3rd.

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in PC Connection by 3.3% in the 1st quarter. Royal Bank of Canada now owns 327,009 shares of the company’s stock valued at $8,175,000 after buying an additional 10,583 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in PC Connection by 2.7% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 208,571 shares of the company’s stock valued at $5,214,000 after buying an additional 5,450 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in PC Connection by 11.4% in the 1st quarter. Russell Investments Group Ltd. now owns 71,607 shares of the company’s stock valued at $1,790,000 after buying an additional 7,344 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in PC Connection in the 1st quarter valued at $1,827,000. Finally, Cigna Investments Inc. New boosted its stake in PC Connection by 34.6% in the 1st quarter. Cigna Investments Inc. New now owns 10,967 shares of the company’s stock valued at $274,000 after buying an additional 2,818 shares in the last quarter. 40.48% of the stock is currently owned by institutional investors and hedge funds.

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.

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