PC Connection (NASDAQ:CNXN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $27.00 target price on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 8.91% from the stock’s current price.
According to Zacks, “PC Connection, Inc. is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. “
Other equities research analysts have also issued reports about the stock. ValuEngine upgraded shares of PC Connection from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st. BidaskClub upgraded shares of PC Connection from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th.
Shares of PC Connection (NASDAQ CNXN) traded up $0.38 on Wednesday, hitting $24.79. 35,669 shares of the stock were exchanged, compared to its average volume of 36,268. The company has a market cap of $686.63, a price-to-earnings ratio of 12.09, a price-to-earnings-growth ratio of 1.51 and a beta of 1.52. PC Connection has a 1 year low of $22.66 and a 1 year high of $30.48.
PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.01. The firm had revenue of $762.27 million during the quarter, compared to analyst estimates of $757.40 million. PC Connection had a net margin of 1.88% and a return on equity of 10.81%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. analysts expect that PC Connection will post 2.12 earnings per share for the current fiscal year.
In related news, CEO Timothy J. Mcgrath sold 5,805 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $26.85, for a total transaction of $155,864.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Barbara Duckett sold 1,123 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $27.56, for a total transaction of $30,949.88. Following the sale, the director now owns 15,877 shares of the company’s stock, valued at $437,570.12. The disclosure for this sale can be found here. Insiders have sold a total of 16,628 shares of company stock valued at $447,259 over the last quarter. 57.30% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of CNXN. MetLife Investment Advisors LLC bought a new stake in PC Connection during the 4th quarter valued at $141,000. Alliancebernstein L.P. bought a new stake in PC Connection during the 2nd quarter valued at $262,000. First Trust Advisors LP bought a new stake in PC Connection during the 3rd quarter valued at $263,000. The Manufacturers Life Insurance Company raised its holdings in PC Connection by 8.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock valued at $268,000 after buying an additional 790 shares during the last quarter. Finally, California Public Employees Retirement System bought a new stake in PC Connection during the 3rd quarter valued at $275,000. Institutional investors own 39.94% 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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