PC Connection (NASDAQ:CNXN – Get Rating) will be releasing its earnings data after the market closes on Thursday, February 9th. Analysts expect PC Connection to post earnings of $0.75 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.
PC Connection (NASDAQ:CNXN – Get Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. PC Connection had a net margin of 2.91% and a return on equity of 12.90%. The company had revenue of $775.69 million during the quarter, compared to analyst estimates of $814.24 million. On average, analysts expect PC Connection to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
PC Connection Stock Up 1.2 %
NASDAQ:CNXN opened at $49.63 on Thursday. The company has a fifty day moving average of $49.84 and a 200 day moving average of $49.08. PC Connection has a 52 week low of $42.20 and a 52 week high of $56.68. The firm has a market capitalization of $1.30 billion, a P/E ratio of 14.10 and a beta of 0.75.
PC Connection Cuts Dividend
The company also recently declared a dividend, which was paid on Friday, December 23rd. Investors of record on Monday, December 5th were issued a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, December 2nd. This represents a yield of 0.61%.
Wall Street Analyst Weighs In
Separately, StockNews.com lowered shares of PC Connection from a “strong-buy” rating to a “buy” rating in a report on Tuesday.
Insiders Place Their Bets
In other PC Connection news, CEO Timothy J. McGrath sold 3,958 shares of the company’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $53.61, for a total value of $212,188.38. Following the completion of the transaction, the chief executive officer now directly owns 327,009 shares in the company, valued at approximately $17,530,952.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other PC Connection news, Chairman Patricia Gallup sold 3,290 shares of the company’s stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $46.63, for a total value of $153,412.70. Following the completion of the transaction, the chairman now directly owns 7,089,032 shares in the company, valued at approximately $330,561,562.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. McGrath sold 3,958 shares of the stock in a transaction dated Monday, December 5th. The stock was 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 owns 327,009 shares of the company’s stock, valued at $17,530,952.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,515 shares of company stock worth $1,659,786. 57.50% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in shares of PC Connection by 62.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after acquiring an additional 290 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of PC Connection by 3.5% in the 3rd quarter. California State Teachers Retirement System now owns 15,451 shares of the company’s stock worth $697,000 after acquiring an additional 523 shares in the last quarter. Legal & General Group Plc increased its stake in shares of PC Connection by 2.1% in the 2nd quarter. Legal & General Group Plc now owns 27,585 shares of the company’s stock worth $1,215,000 after acquiring an additional 556 shares in the last quarter. Alliancebernstein LP increased its stake in shares of PC Connection by 4.4% in the 3rd quarter. Alliancebernstein LP now owns 13,338 shares of the company’s stock worth $601,000 after acquiring an additional 568 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of PC Connection by 0.4% in the 1st quarter. Bank of New York Mellon Corp now owns 146,379 shares of the company’s stock worth $7,669,000 after acquiring an additional 587 shares in the last quarter. 42.51% of the stock is currently owned by institutional investors.
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.
Further Reading
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