PC Connection (NASDAQ:CNXN) released its earnings results on Thursday. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.19, Bloomberg Earnings reports. The business had revenue of $741.10 million for the quarter, compared to the consensus estimate of $719.44 million. PC Connection had a return on equity of 12.51% and a net margin of 2.44%. PC Connection’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 earnings per share.
NASDAQ CNXN traded up $7.28 during trading on Friday, reaching $39.85. 120,108 shares of the company’s stock were exchanged, compared to its average volume of 47,196. The firm’s 50 day simple moving average is $34.27. The firm has a market capitalization of $862.21 million, a PE ratio of 16.81, a P/E/G ratio of 1.64 and a beta of 1.16. The company has a quick ratio of 2.07, a current ratio of 2.60 and a debt-to-equity ratio of 0.02. PC Connection has a fifty-two week low of $27.04 and a fifty-two week high of $43.05.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc increased its position in PC Connection by 23.6% during the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock worth $67,000 after buying an additional 431 shares during the last quarter. Citigroup Inc. increased its position in PC Connection by 17.6% during the fourth quarter. Citigroup Inc. now owns 3,702 shares of the company’s stock worth $110,000 after buying an additional 554 shares during the last quarter. Strs Ohio increased its position in PC Connection by 5.2% during the second quarter. Strs Ohio now owns 18,300 shares of the company’s stock worth $640,000 after buying an additional 900 shares during the last quarter. New York State Teachers Retirement System acquired a new position in PC Connection during the first quarter worth approximately $37,000. Finally, Globeflex Capital L P increased its position in PC Connection by 17.1% during the first quarter. Globeflex Capital L P now owns 7,726 shares of the company’s stock worth $283,000 after buying an additional 1,126 shares during the last quarter. 41.26% of the stock is currently owned by hedge funds and other institutional investors.
CNXN has been the topic of a number of recent research reports. Zacks Investment Research downgraded PC Connection from a “buy” rating to a “hold” rating in a research report on Wednesday, May 8th. BidaskClub downgraded PC Connection from a “hold” rating to a “sell” rating in a research report on Tuesday, July 23rd. ValuEngine downgraded PC Connection from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, Sidoti raised PC Connection from a “neutral” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $40.00.
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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