Insider Selling: PC Connection major shareholder Sells 10,000 Shares of Stock (PCCC)
PC Connection (NASDAQ:PCCC) major shareholder Patricia Gallup sold 10,000 shares of PC Connection stock on the open market in a transaction dated Thursday, January 16th. The shares were sold at an average price of $24.52, for a total value of $245,200.00. Following the sale, the insider now directly owns 968,810 shares in the company, valued at approximately $23,755,221. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
PC Connection (NASDAQ:PCCC) traded down 1.59% during mid-day trading on Friday, hitting $24.14. The stock had a trading volume of 52,612 shares. PC Connection has a 52 week low of $11.98 and a 52 week high of $25.94. The stock has a 50-day moving average of $24.08 and a 200-day moving average of $18.71. The company has a market cap of $631.7 million and a P/E ratio of 18.73.
PC Connection (NASDAQ:PCCC) last announced its earnings results on Thursday, October 24th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.02. The company had revenue of $580.40 million for the quarter, compared to the consensus estimate of $570.90 million. During the same quarter in the prior year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Analysts expect that PC Connection will post $1.35 EPS for the current fiscal year.
A number of research firms have recently commented on PCCC. Analysts at Roth Capital raised their price target on shares of PC Connection from $21.00 to $23.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock. Analysts at Canaccord Genuity raised their price target on shares of PC Connection from $18.00 to $19.00 in a research note to investors on Friday, October 25th. They now have a “buy” rating on the stock.
PC Connection, Inc is a direct marketer of a range of information technology, or information technology (NASDAQ:PCCC), solutions.
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