PC Connection, Inc. (CNXN) Issues Earnings Results, Meets Estimates

PC Connection, Inc. (NASDAQ:CNXN) issued its earnings results on Thursday. The company reported $0.49 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.49, Briefing.com reports. The company had revenue of $729.23 million during the quarter, compared to analyst estimates of $727.84 million. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS.

Shares of PC Connection (NASDAQ:CNXN) traded up 0.37% during midday trading on Friday, reaching $27.26. The company’s stock had a trading volume of 31,632 shares. The stock has a market capitalization of $730.13 million, a price-to-earnings ratio of 15.41 and a beta of 1.68. The company has a 50 day moving average of $27.36 and a 200-day moving average of $26.89. PC Connection has a 52 week low of $22.31 and a 52 week high of $30.48.

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In related news, Director Negrini David Beffa sold 20,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the transaction, the director now directly owns 129,800 shares of the company’s stock, valued at $3,374,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Timothy J. Mcgrath sold 26,122 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $25.82, for a total transaction of $674,470.04. Following the transaction, the chief executive officer now directly owns 224,907 shares of the company’s stock, valued at $5,807,098.74. The disclosure for this sale can be found here. 57.30% of the stock is currently owned by corporate insiders.

Several equities research analysts have weighed in on CNXN shares. Roth Capital set a $33.00 price target on PC Connection and gave the stock a “buy” rating in a research report on Friday, July 28th. Zacks Investment Research raised PC Connection from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Monday, July 31st. Finally, ValuEngine downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.

PC Connection Company Profile

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.

Earnings History for PC Connection (NASDAQ:CNXN)

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