PC Connection, Inc. (CNXN) Downgraded by ValuEngine

ValuEngine cut shares of PC Connection, Inc. (NASDAQ:CNXN) from a buy rating to a hold rating in a research report released on Friday.

A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered PC Connection from a hold rating to a sell rating in a report on Friday, October 20th. Roth Capital set a $33.00 target price on PC Connection and gave the company a buy rating in a report on Friday, July 28th.

Shares of PC Connection (NASDAQ:CNXN) traded down $0.30 during trading on Friday, reaching $25.85. The company had a trading volume of 30,200 shares, compared to its average volume of 47,619. PC Connection has a fifty-two week low of $23.52 and a fifty-two week high of $30.48. The company has a market cap of $693.18, a PE ratio of 14.13, a P/E/G ratio of 1.79 and a beta of 1.60.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.49. PC Connection had a return on equity of 10.84% and a net margin of 1.63%. The business had revenue of $729.23 million for the quarter, compared to analysts’ expectations of $727.84 million. During the same period in the previous year, the business posted $0.53 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. sell-side analysts expect that PC Connection will post 1.81 EPS for the current year.

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In other PC Connection news, Director Negrini David Beffa sold 20,000 shares of PC Connection stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the transaction, the director now owns 129,800 shares of the company’s stock, valued at approximately $3,374,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 57.30% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of CNXN. Rhumbline Advisers grew its holdings in shares of PC Connection by 1.5% during the second quarter. Rhumbline Advisers now owns 13,774 shares of the company’s stock worth $373,000 after purchasing an additional 205 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of PC Connection by 0.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 59,671 shares of the company’s stock worth $1,615,000 after purchasing an additional 394 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of PC Connection by 2.5% during the second quarter. Bessemer Group Inc. now owns 24,900 shares of the company’s stock worth $674,000 after purchasing an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PC Connection by 8.7% during the second quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock worth $268,000 after purchasing an additional 790 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of PC Connection by 17.6% during the second quarter. Victory Capital Management Inc. now owns 6,892 shares of the company’s stock worth $186,000 after purchasing an additional 1,033 shares in the last quarter. 41.63% of the stock is owned by institutional investors and hedge funds.

PC Connection Company Profile

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

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