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. “
Separately, BidaskClub raised PC Connection from a “sell” rating to a “hold” rating in a research report on Tuesday, January 5th.
Shares of PC Connection stock traded down $1.06 during midday trading on Monday, hitting $49.73. The company’s stock had a trading volume of 57,099 shares, compared to its average volume of 66,600. The firm has a market capitalization of $1.30 billion, a P/E ratio of 21.44 and a beta of 0.76. The stock has a 50-day simple moving average of $46.15 and a 200-day simple moving average of $45.01. PC Connection has a 1-year low of $30.10 and a 1-year high of $54.17.
PC Connection (NASDAQ:CNXN) last issued its earnings results on Monday, November 9th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.02). The business had revenue of $652.75 million during the quarter, compared to analyst estimates of $655.01 million. PC Connection had a return on equity of 10.19% and a net margin of 2.33%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period last year, the business earned $0.90 EPS. On average, analysts forecast that PC Connection will post 2.08 EPS for the current year.
In other PC Connection news, Director Negrini David Beffa sold 2,000 shares of the business’s stock in a transaction dated Wednesday, December 9th. The stock was sold at an average price of $46.15, for a total value of $92,300.00. Following the completion of the sale, the director now owns 94,000 shares of the company’s stock, valued at $4,338,100. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 58.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in CNXN. 6 Meridian increased its position in shares of PC Connection by 10.8% during the third quarter. 6 Meridian now owns 6,012 shares of the company’s stock worth $247,000 after acquiring an additional 585 shares in the last quarter. JPMorgan Chase & Co. grew its position in PC Connection by 9.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 8,475 shares of the company’s stock worth $351,000 after purchasing an additional 707 shares in the last quarter. California Public Employees Retirement System grew its position in PC Connection by 4.8% in the 3rd quarter. California Public Employees Retirement System now owns 25,512 shares of the company’s stock worth $1,048,000 after purchasing an additional 1,157 shares in the last quarter. Bank of Montreal Can grew its position in PC Connection by 394.2% in the 2nd quarter. Bank of Montreal Can now owns 1,527 shares of the company’s stock worth $72,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Strs Ohio grew its position in PC Connection by 11.9% in the 3rd quarter. Strs Ohio now owns 14,100 shares of the company’s stock worth $578,000 after purchasing an additional 1,500 shares in the last quarter. 44.09% of the stock is owned by institutional investors.
PC Connection Company Profile
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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