Zacks Investment Research upgraded shares of PC Connection (NASDAQ:CNXN) from a hold rating to a buy rating in a report issued on Wednesday. Zacks Investment Research currently has $27.00 price objective on the stock.
According to Zacks, “PC Connection, Inc. is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. “
Several other research firms have also issued reports on CNXN. BidaskClub upgraded PC Connection from a sell rating to a hold rating in a research report on Wednesday, December 20th. ValuEngine upgraded PC Connection from a hold rating to a buy rating in a research report on Tuesday, October 31st.
PC Connection (CNXN) opened at $25.31 on Wednesday. PC Connection has a 12-month low of $22.66 and a 12-month high of $30.48. The stock has a market capitalization of $700.57, a price-to-earnings ratio of 14.46, a PEG ratio of 1.35 and a beta of 1.52.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, February 15th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.01. PC Connection had a return on equity of 10.81% and a net margin of 1.88%. The business had revenue of $762.27 million for the quarter, compared to analyst estimates of $757.40 million. During the same period last year, the company earned $0.53 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. equities analysts forecast that PC Connection will post 2.28 EPS for the current year.
In other PC Connection news, CEO Timothy J. Mcgrath sold 9,700 shares of PC Connection stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $26.85, for a total transaction of $260,445.00. Following the transaction, the chief executive officer now directly owns 207,207 shares in the company, valued at $5,563,507.95. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Barbara Duckett sold 1,123 shares of PC Connection stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $27.56, for a total value of $30,949.88. Following the transaction, the director now owns 15,877 shares in the company, valued at $437,570.12. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,628 shares of company stock worth $447,259. Corporate insiders own 57.30% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its holdings in PC Connection by 141.7% during the third quarter. JPMorgan Chase & Co. now owns 10,501 shares of the company’s stock worth $291,000 after acquiring an additional 6,157 shares in the last quarter. ClariVest Asset Management LLC lifted its holdings in PC Connection by 3.4% during the third quarter. ClariVest Asset Management LLC now owns 186,715 shares of the company’s stock worth $5,265,000 after acquiring an additional 6,225 shares in the last quarter. IndexIQ Advisors LLC lifted its holdings in PC Connection by 83.0% during the third quarter. IndexIQ Advisors LLC now owns 29,093 shares of the company’s stock worth $820,000 after acquiring an additional 13,192 shares in the last quarter. Alliancebernstein L.P. bought a new position in PC Connection during the second quarter worth about $262,000. Finally, Goldman Sachs Group Inc. lifted its holdings in PC Connection by 11.4% during the second quarter. Goldman Sachs Group Inc. now owns 38,886 shares of the company’s stock worth $1,052,000 after acquiring an additional 3,975 shares in the last quarter. Hedge funds and other institutional investors own 39.94% of the company’s stock.
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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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