Insider Selling: Patricia Gallup Sells 10,000 Shares of PC Connection Stock (PCCC)
PC Connection (NASDAQ:PCCC) major shareholder Patricia Gallup unloaded 10,000 shares of the company’s stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $22.55, for a total value of $225,500.00. Following the transaction, the insider now directly owns 660,810 shares in the company, valued at approximately $14,901,266. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Shares of PC Connection (NASDAQ:PCCC) traded up 0.84% during mid-day trading on Friday, hitting $22.68. The stock had a trading volume of 24,009 shares. PC Connection has a 1-year low of $14.72 and a 1-year high of $25.94. The stock has a 50-day moving average of $21.13 and a 200-day moving average of $20.76. The company has a market cap of $594.8 million and a price-to-earnings ratio of 15.30.
PC Connection (NASDAQ:PCCC) last announced its earnings results 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. Analysts expect that PC Connection will post $1.51 EPS for the current fiscal year.
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, August 1st.
PC Connection, Inc is a direct marketer of a range of information technology, or information technology (NASDAQ:PCCC), solutions.
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