PC Connection (NASDAQ:CNXN – Get Rating) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Wednesday.
PC Connection Price Performance
NASDAQ:CNXN opened at $47.46 on Wednesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of 13.96 and a beta of 0.65. The company’s fifty day moving average price is $48.08 and its 200-day moving average price is $47.63. PC Connection has a 1-year low of $40.08 and a 1-year high of $54.79.
Insider Buying and Selling at PC Connection
In other news, Chairman Patricia Gallup sold 1,707 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $43.97, for a total transaction of $75,056.79. Following the transaction, the chairman now directly owns 2,091,197 shares in the company, valued at approximately $91,949,932.09. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other PC Connection news, Chairman Patricia Gallup sold 1,707 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $43.97, for a total transaction of $75,056.79. Following the completion of the transaction, the chairman now owns 2,091,197 shares of the company’s stock, valued at $91,949,932.09. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jack L. Ferguson sold 4,000 shares of the firm’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 owns 77,680 shares of the company’s stock, valued at $3,601,244.80. The disclosure for this sale can be found here. Insiders sold 10,311 shares of company stock valued at $473,075 over the last quarter. 57.50% of the stock is currently owned by insiders.
Institutional Investors Weigh In On PC Connection
Institutional investors and hedge funds have recently made changes to their positions in the business. Mawer Investment Management Ltd. boosted its holdings in shares of PC Connection by 4.2% in the first quarter. Mawer Investment Management Ltd. now owns 1,976,093 shares of the company’s stock valued at $103,528,000 after acquiring an additional 78,958 shares in the last quarter. Vanguard Group Inc. boosted its holdings in PC Connection by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 774,066 shares of the company’s stock valued at $40,553,000 after purchasing an additional 22,765 shares in the last quarter. State Street Corp increased its position in PC Connection by 2.2% during the 2nd quarter. State Street Corp now owns 419,608 shares of the company’s stock worth $18,484,000 after purchasing an additional 8,834 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of PC Connection by 11.1% during the 2nd quarter. Goldman Sachs Group Inc. now owns 211,969 shares of the company’s stock worth $9,338,000 after buying an additional 21,093 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PC Connection by 5.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 197,678 shares of the company’s stock valued at $10,356,000 after buying an additional 10,520 shares during the period. 41.32% of the stock is owned by hedge funds and other institutional investors.
About PC Connection
(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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider PC Connection, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and PC Connection wasn’t on the list.
While PC Connection currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
.