PCM Inc (PCMI) Sees Large Volume Increase
Shares of PCM Inc (NASDAQ:PCMI) saw unusually-strong trading volume on Tuesday . Approximately 211,817 shares traded hands during trading, an increase of 20% from the previous session’s volume of 176,484 shares.The stock last traded at $18.67 and had previously closed at $18.20.
Several analysts recently commented on PCMI shares. B. Riley reaffirmed a “buy” rating and set a $17.00 target price on shares of PCM in a report on Saturday, July 30th. Roth Capital started coverage on shares of PCM in a report on Thursday, July 21st. They set a “buy” rating and a $16.00 target price for the company. TheStreet raised shares of PCM from a “sell” rating to a “hold” rating in a report on Friday, May 27th. Finally, Zacks Investment Research raised shares of PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a report on Saturday, July 30th.
The stock’s 50 day moving average price is $13.75 and its 200-day moving average price is $10.27. The firm’s market capitalization is $217.44 million.
PCM (NASDAQ:PCMI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.29. The business earned $581 million during the quarter, compared to analyst estimates of $478.87 million. On average, analysts expect that PCM Inc will post $1.57 earnings per share for the current fiscal year.
In other PCM news, CFO Brandon H. Laverne sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $16.99, for a total value of $509,700.00. Following the completion of the sale, the chief financial officer now owns 12,879 shares of the company’s stock, valued at $218,814.21. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Ronald B. Reck sold 19,466 shares of the firm’s stock in a transaction dated Thursday, August 4th. The stock was sold at an average price of $16.13, for a total value of $313,986.58. Following the completion of the sale, the director now directly owns 40,966 shares of the company’s stock, valued at approximately $660,781.58. The disclosure for this sale can be found here.
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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