ValuEngine upgraded shares of PC Connection, Inc. (NASDAQ:CNXN) from a hold rating to a buy rating in a research report report published on Tuesday morning.

A number of other research firms have also recently issued reports on CNXN. Zacks Investment Research cut shares of PC Connection from a hold rating to a sell rating in a research report on Friday, October 20th. Roth Capital set a $33.00 price objective on shares of PC Connection and gave the stock a buy rating in a research report on Friday, July 28th.

Shares of PC Connection (CNXN) traded down $0.23 during trading hours on Tuesday, reaching $26.49. 39,333 shares of the company’s stock were exchanged, compared to its average volume of 47,496. The stock has a market cap of $713.31 million, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.84 and a beta of 1.60.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Thursday, October 26th. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49. The business had revenue of $729.23 million during the quarter, compared to analysts’ expectations of $727.84 million. PC Connection had a net margin of 1.63% and a return on equity of 11.00%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. equities analysts predict 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 the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the sale, the director now directly 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 is available at this hyperlink. Also, CEO Timothy J. Mcgrath sold 26,122 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $25.82, for a total transaction of $674,470.04. Following the sale, the chief executive officer now directly owns 224,907 shares in the company, valued at $5,807,098.74. The disclosure for this sale can be found here. Insiders own 57.30% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP boosted its stake in shares of PC Connection by 0.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,244,663 shares of the company’s stock valued at $60,741,000 after purchasing an additional 10,323 shares during the last quarter. Northern Trust Corp boosted its stake in shares of PC Connection by 1.9% in the 2nd quarter. Northern Trust Corp now owns 730,319 shares of the company’s stock valued at $19,763,000 after purchasing an additional 13,284 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of PC Connection by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 541,510 shares of the company’s stock valued at $14,653,000 after purchasing an additional 42,259 shares during the last quarter. Tributary Capital Management LLC boosted its stake in shares of PC Connection by 68.2% in the 2nd quarter. Tributary Capital Management LLC now owns 385,128 shares of the company’s stock valued at $10,422,000 after purchasing an additional 156,106 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of PC Connection by 8.5% in the 2nd quarter. State Street Corp now owns 255,636 shares of the company’s stock valued at $6,915,000 after purchasing an additional 20,012 shares during the last quarter. 41.49% of the stock is currently owned by institutional investors.

About PC Connection

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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