PC Connection (NASDAQ:CNXN – Get Rating) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday.
PC Connection Price Performance
Shares of CNXN stock opened at $45.45 on Thursday. The stock has a market cap of $1.19 billion, a P/E ratio of 13.37 and a beta of 0.65. The company has a fifty day moving average price of $47.90 and a two-hundred day moving average price of $47.40. PC Connection has a one year low of $40.08 and a one year high of $54.79.
PC Connection (NASDAQ:CNXN – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.20. The business had revenue of $828.51 million for the quarter, compared to analyst estimates of $771.98 million. PC Connection had a net margin of 2.83% and a return on equity of 12.77%. As a group, equities research analysts anticipate that PC Connection will post 3.29 EPS for the current fiscal year.
Insider Activity
In other PC Connection news, Director Jack L. Ferguson sold 4,000 shares of the business’s stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $46.36, for a total transaction of $185,440.00. Following the completion of the sale, the director now owns 77,680 shares in the company, valued at approximately $3,601,244.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jack L. Ferguson sold 4,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $46.36, for a total value of $185,440.00. Following the transaction, the director now directly owns 77,680 shares of the company’s stock, valued at approximately $3,601,244.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Patricia Gallup sold 2,029 shares of the business’s stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $46.62, for a total value of $94,591.98. Following the completion of the sale, the chairman now owns 2,081,702 shares in the company, valued at $97,048,947.24. The disclosure for this sale can be found here. Insiders sold 8,604 shares of company stock worth $398,018 in the last quarter. 57.50% of the stock is owned by corporate insiders.
Institutional Trading of PC Connection
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in shares of PC Connection during the second quarter valued at approximately $28,000. KBC Group NV purchased a new stake in PC Connection in the second quarter worth $41,000. Covestor Ltd raised its stake in PC Connection by 2,189.7% in the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after acquiring an additional 854 shares during the period. Mutual of America Capital Management LLC raised its stake 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 worth $82,000 after acquiring an additional 268 shares during the period. Finally, National Bank of Canada FI purchased a new stake in PC Connection in the second quarter worth $92,000. Hedge funds and other institutional investors own 41.32% 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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