Analysts Set $25.50 Target Price for PCM Inc. (PCMI)
Shares of PCM Inc. (NASDAQ:PCMI) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating. PCM’s rating score has improved by 50% from 90 days ago as a result of various analysts’ upgrades and downgrades.
Analysts have set a 1 year consensus price target of $25.50 for the company and are expecting that the company will post $0.36 earnings per share for the current quarter, according to Zacks. Zacks has also given PCM an industry rank of 154 out of 265 based on the ratings given to related companies.
Several equities research analysts recently weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $27.00 price objective on shares of PCM in a research report on Thursday, October 27th. Roth Capital raised shares of PCM from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $20.50 to $24.00 in a research report on Thursday, October 27th. Finally, Zacks Investment Research raised shares of PCM from a “hold” rating to a “strong-buy” rating and set a $24.00 price objective for the company in a research report on Tuesday, November 1st.
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In other news, CFO Brandon H. Laverne sold 30,474 shares of the stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $21.56, for a total value of $657,019.44. Following the completion of the transaction, the chief financial officer now owns 18,064 shares of the company’s stock, valued at $389,459.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brandon H. Laverne sold 7,548 shares of the stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $20.95, for a total transaction of $158,130.60. Following the completion of the transaction, the chief financial officer now directly owns 15,612 shares of the company’s stock, valued at approximately $327,071.40. The disclosure for this sale can be found here. Corporate insiders own 30.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in PCM by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 46,261 shares of the company’s stock worth $515,000 after buying an additional 373 shares during the period. Royce & Associates LP boosted its position in PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock worth $11,868,000 after buying an additional 40,668 shares during the period. Algert Global LLC bought a new position in PCM during the third quarter worth approximately $2,049,000. Mork Capital Management LLC bought a new position in PCM during the second quarter worth approximately $557,000. Finally, Royal Bank of Canada boosted its position in PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock worth $414,000 after buying an additional 8,256 shares during the period. 43.55% of the stock is owned by hedge funds and other institutional investors.
Shares of PCM (NASDAQ:PCMI) traded down 1.48% during midday trading on Wednesday, hitting $20.00. 54,960 shares of the stock traded hands. PCM has a 52 week low of $7.48 and a 52 week high of $24.53. The firm’s 50-day moving average is $20.57 and its 200 day moving average is $16.22. The company’s market capitalization is $236.98 million.
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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