Negrini David Beffa Sells 5,000 Shares of PC Connection, Inc. (NASDAQ:CNXN) Stock

PC Connection, Inc. (NASDAQ:CNXN) Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

PC Connection Price Performance

CNXN stock opened at $72.74 on Friday. The stock has a market capitalization of $1.91 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.12 and a beta of 0.63. PC Connection, Inc. has a 1-year low of $57.47 and a 1-year high of $77.19. The business has a fifty day moving average price of $72.29 and a 200-day moving average price of $69.04.

PC Connection Announces Dividend

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

Institutional Trading of PC Connection

A number of institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in shares of PC Connection by 7.2% during the third quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after purchasing an additional 23,358 shares during the last quarter. Barclays PLC grew its position in PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock worth $2,717,000 after purchasing an additional 23,084 shares during the period. Jane Street Group LLC grew its position in PC Connection by 195.9% in the 3rd quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock worth $1,813,000 after purchasing an additional 15,916 shares during the period. State Street Corp lifted its holdings 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. Finally, Point72 DIFC Ltd purchased a new position in shares of PC Connection in the 3rd quarter worth $28,000. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of PC Connection from a “buy” rating to a “hold” rating in a report 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.