PC Connection (NASDAQ:CNXN – Get Rating) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Tuesday.
PC Connection Stock Performance
NASDAQ CNXN opened at $46.81 on Tuesday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of 13.30 and a beta of 0.75. PC Connection has a 52-week low of $40.08 and a 52-week high of $56.68. The business has a 50 day simple moving average of $50.81 and a 200 day simple moving average of $48.49.
PC Connection (NASDAQ:CNXN – Get Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. The company had revenue of $775.69 million during the quarter, compared to analysts’ expectations of $814.24 million. PC Connection had a net margin of 2.91% and a return on equity of 12.90%. On average, analysts predict that PC Connection will post 3.42 EPS for the current year.
Insider Transactions at PC Connection
In other news, Chairman Patricia Gallup sold 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $52.07, for a total transaction of $249,936.00. Following the completion of the transaction, the chairman now directly owns 7,135,362 shares of the company’s stock, valued at approximately $371,538,299.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Patricia Gallup sold 4,800 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $52.07, for a total value of $249,936.00. Following the completion of the transaction, the chairman now directly owns 7,135,362 shares of the company’s stock, valued at $371,538,299.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy J. McGrath sold 3,958 shares of the firm’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $53.61, for a total transaction of $212,188.38. Following the completion of the transaction, the chief executive officer now directly owns 327,009 shares of the company’s stock, valued at $17,530,952.49. The disclosure for this sale can be found here. Insiders sold 22,871 shares of company stock valued at $1,191,975 in the last ninety days. 57.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Denali Advisors LLC raised its stake in PC Connection by 11.5% in the second quarter. Denali Advisors LLC now owns 88,500 shares of the company’s stock valued at $3,898,000 after purchasing an additional 9,100 shares in the last quarter. James Investment Research Inc. raised its stake in PC Connection by 15.7% in the second quarter. James Investment Research Inc. now owns 30,067 shares of the company’s stock valued at $1,324,000 after purchasing an additional 4,071 shares in the last quarter. Grantham Mayo Van Otterloo & Co. LLC bought a new position in PC Connection in the second quarter valued at about $581,000. Capital Impact Advisors LLC grew its position in PC Connection by 31.9% in the second quarter. Capital Impact Advisors LLC now owns 11,680 shares of the company’s stock valued at $515,000 after acquiring an additional 2,825 shares during the last quarter. Finally, Mutual of America Capital Management LLC grew its position in PC Connection by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 1,853 shares of the company’s stock valued at $82,000 after acquiring an additional 268 shares during the last quarter. Institutional investors and hedge funds own 42.51% of the company’s stock.
PC Connection Company Profile
(Get Rating)
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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