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Computer Connection (NASDAQ:CNXN – Get Estimated) was downgraded by equities analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.
PC Connection’s stock down 0.3%
PC Connection stock opened at $51.74 on Friday. The stock has a market cap of $1.36 billion, a P/E ratio of 15.22 and a beta of 0.70. PC Connection has a twelve month low of $40.08 and a twelve month high of $54.79. The company’s 50-day moving average price is $47.81 and its two-hundred-day moving average price is $47.09.
PC Connection (NASDAQ:CNXN – Get Rating ) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.20. The company had revenue of $828.51 million for the quarter, compared to analysts’ expectations of $771.98 million. PC Connection had a net margin of 2.83% and a return on equity of 12.77%. equities analysts predict that PC Connection will post 3.29 earnings per share for the current fiscal year.
Insider Buying and Selling at PC Connection
In other news, Director Jack L. Ferguson sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $46.36, for a total transaction of $185,440.00. Following the transaction, the director now directly owns 77,680 shares of the company’s stock, valued at $3,601,244.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 57.50% of the company’s shares.
Institutional Business of PC Connection
Several large investors have recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in shares of PC Connection by 1.3% during the 3rd quarter. Victory Capital Management Inc. now owns 16,278 shares of the company’s stock worth $734,000 after acquiring an additional 212 shares in the last quarter. Comerica Bank boosted its position in PC Connection by 2.5% in the first quarter. Comerica Bank now owns 9,767 shares of the company’s stock valued at $513,000 after buying an additional 239 shares in the last quarter. Mutual of America Capital Management LLC boosted its position in PC Connection by 16.9% in the second quarter. Mutual of America Capital Management LLC now owns 1,853 shares of the company’s stock valued at $82,000 after buying an additional 268 shares in the last quarter. Legal & General Group Plc boosted its position in PC Connection by 2.1% in the second quarter. Legal & General Group Plc now owns 27,585 shares of the company’s stock valued at $1,215,000 after buying an additional 556 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in PC Connection by 0.4% in the first quarter. Bank of New York Mellon Corp now owns 146,379 shares of the company’s stock valued at $7,669,000 after buying an additional 587 shares in the last quarter. Institutional investors and hedge funds own 41.32% of the company’s shares.
About PC Connection
(Get Rating)
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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