A number of other analysts also recently issued reports on CNXN. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Friday, February 8th. Sidoti downgraded shares of PC Connection from a “buy” rating to a “neutral” rating and set a $40.00 target price for the company. in a research report on Friday, February 15th. Finally, ValuEngine downgraded shares of PC Connection from a “buy” rating to a “hold” rating in a research report on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. PC Connection currently has an average rating of “Hold” and an average price target of $40.00.
CNXN opened at $33.38 on Wednesday. The company has a market cap of $901.51 million, a P/E ratio of 14.08, a price-to-earnings-growth ratio of 1.71 and a beta of 1.06. PC Connection has a 1 year low of $27.04 and a 1 year high of $43.05. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 2.07.
PC Connection (NASDAQ:CNXN) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.04. The firm had revenue of $632.92 million during the quarter, compared to the consensus estimate of $647.08 million. PC Connection had a net margin of 2.44% and a return on equity of 12.51%. The company’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. On average, analysts expect that PC Connection will post 2.5 earnings per share for the current year.
In other PC Connection news, Director Negrini David Beffa sold 12,300 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $40.14, for a total value of $493,722.00. Following the completion of the sale, the director now owns 109,500 shares of the company’s stock, valued at $4,395,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 57.70% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of CNXN. New York State Teachers Retirement System acquired a new stake in PC Connection in the first quarter valued at approximately $37,000. Quantamental Technologies LLC acquired a new stake in PC Connection in the fourth quarter valued at approximately $39,000. Metropolitan Life Insurance Co NY grew its position in PC Connection by 9.4% in the first quarter. Metropolitan Life Insurance Co NY now owns 4,782 shares of the company’s stock valued at $48,000 after acquiring an additional 409 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of PC Connection during the 4th quarter valued at approximately $58,000. Finally, Assetmark Inc. purchased a new position in shares of PC Connection during the 1st quarter valued at approximately $65,000. 41.15% 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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