PC Connection, Inc. (NASDAQ:CNXN) Director Barbara Duckett sold 1,123 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $27.56, for a total value of $30,949.88. Following the transaction, the director now owns 15,877 shares in the company, valued at approximately $437,570.12. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
PC Connection, Inc. (NASDAQ CNXN) traded down $0.54 during midday trading on Friday, reaching $26.11. The company’s stock had a trading volume of 56,657 shares, compared to its average volume of 37,295. PC Connection, Inc. has a 52 week low of $23.52 and a 52 week high of $30.48. The firm has a market cap of $714.64, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.84 and a beta of 1.59.
PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.49 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.49. The business had revenue of $729.23 million for the quarter, compared to analysts’ expectations of $727.84 million. PC Connection had a return on equity of 10.84% and a net margin of 1.63%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. equities research analysts forecast that PC Connection, Inc. will post 1.81 EPS for the current year.
Several equities analysts have issued reports on CNXN shares. Zacks Investment Research cut PC Connection from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research report on Friday, September 1st.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its holdings 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 worth $60,741,000 after acquiring an additional 10,323 shares during the period. Northern Trust Corp grew its holdings 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 worth $19,763,000 after acquiring an additional 13,284 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $14,653,000 after acquiring an additional 42,259 shares during the period. State Street Corp grew its holdings 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 worth $6,915,000 after acquiring an additional 20,012 shares during the period. Finally, Royal Bank of Canada grew its holdings in shares of PC Connection by 15.3% in the 2nd quarter. Royal Bank of Canada now owns 250,510 shares of the company’s stock worth $6,779,000 after acquiring an additional 33,294 shares during the period. Institutional investors and hedge funds own 41.18% of the company’s stock.
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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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