PC Connection, Inc. (CNXN) Upgraded at ValuEngine
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.
ILLEGAL ACTIVITY WARNING: This piece was originally posted by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another site, it was stolen and republished in violation of international trademark and copyright law. The original version of this piece can be viewed at https://www.watchlistnews.com/pc-connection-inc-cnxn-upgraded-at-valuengine/1676689.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for PC Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.