ValuEngine Lowers PC Connection, Inc. (CNXN) to Hold
PC Connection, Inc. (NASDAQ:CNXN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other equities analysts have also commented on CNXN. Roth Capital set a $33.00 target price on shares of PC Connection and gave the company a “buy” rating in a report on Friday, July 28th. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Monday, July 31st.
PC Connection (NASDAQ CNXN) traded down $0.30 during mid-day trading on Friday, hitting $25.85. 30,183 shares of the company traded hands, compared to its average volume of 47,619. PC Connection has a 52 week low of $23.52 and a 52 week high of $30.48. The company has a market cap of $703.65, a price-to-earnings ratio of 14.34, a P/E/G ratio of 1.81 and a beta of 1.60.
PC Connection (NASDAQ:CNXN) last released its earnings results on Thursday, October 26th. The company reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. PC Connection had a net margin of 1.63% and a return on equity of 11.00%. The company had revenue of $729.23 million for the quarter, compared to analyst estimates of $727.84 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. analysts anticipate that PC Connection will post 1.81 EPS for the current year.
COPYRIGHT VIOLATION WARNING: “ValuEngine Lowers PC Connection, Inc. (CNXN) to Hold” was posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/11/10/valuengine-lowers-pc-connection-inc-cnxn-to-hold.html.
In related news, Director Negrini David Beffa sold 20,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the transaction, the director now owns 129,800 shares of the company’s stock, valued at approximately $3,374,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 57.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Rhumbline Advisers grew its holdings in PC Connection by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 13,774 shares of the company’s stock worth $373,000 after acquiring an additional 205 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in PC Connection by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,671 shares of the company’s stock worth $1,615,000 after acquiring an additional 394 shares during the last quarter. Bessemer Group Inc. grew its holdings in PC Connection by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 24,900 shares of the company’s stock worth $674,000 after acquiring an additional 600 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in PC Connection by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock worth $268,000 after acquiring an additional 790 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in PC Connection by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,892 shares of the company’s stock worth $186,000 after acquiring an additional 1,033 shares during the last quarter. 41.44% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for PC Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.