Insider Selling: Patricia Gallup Sells 10,000 Shares of PC Connection Stock (PCCC)
PC Connection (NASDAQ:PCCC) major shareholder Patricia Gallup sold 10,000 shares of the stock on the open market in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $20.15, for a total transaction of $201,500.00. Following the transaction, the insider now directly owns 698,810 shares of the company’s stock, valued at approximately $14,081,022. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Separately, analysts at Raymond James upgraded shares of PC Connection from an “underperform” rating to a “market perform” rating in a research note on Friday.
Shares of PC Connection (NASDAQ:PCCC) traded up 5.29% during mid-day trading on Friday, hitting $21.51. The stock had a trading volume of 109,602 shares. PC Connection has a 52 week low of $14.51 and a 52 week high of $25.94. The stock’s 50-day moving average is $20.32 and its 200-day moving average is $20.78. The company has a market cap of $563.7 million and a price-to-earnings ratio of 14.71.
PC Connection (NASDAQ:PCCC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.39 by $0.04. The company had revenue of $633.20 million for the quarter, compared to the consensus estimate of $585.08 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 13.6% on a year-over-year basis. On average, analysts predict that PC Connection will post $1.50 earnings per share for the current fiscal year.
PC Connection, Inc is a direct marketer of a range of information technology, or information technology (NASDAQ:PCCC), solutions.
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