GSA Capital Partners LLP Has $1.13 Million Position in PC Connection, Inc. (CNXN)
GSA Capital Partners LLP increased its holdings in PC Connection, Inc. (NASDAQ:CNXN) by 7.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 34,112 shares of the company’s stock after purchasing an additional 2,478 shares during the quarter. GSA Capital Partners LLP owned approximately 0.13% of PC Connection worth $1,133,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CNXN. Matarin Capital Management LLC bought a new stake in shares of PC Connection in the first quarter worth $1,827,000. Tributary Capital Management LLC boosted its position in PC Connection by 8.6% during the second quarter. Tributary Capital Management LLC now owns 435,527 shares of the company’s stock valued at $14,459,000 after acquiring an additional 34,601 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in PC Connection during the first quarter valued at $757,000. Royal Bank of Canada boosted its position in PC Connection by 3.3% during the first quarter. Royal Bank of Canada now owns 327,009 shares of the company’s stock valued at $8,175,000 after acquiring an additional 10,583 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in PC Connection by 135.4% during the second quarter. Acadian Asset Management LLC now owns 17,006 shares of the company’s stock valued at $564,000 after acquiring an additional 9,781 shares during the last quarter. 41.31% of the stock is currently owned by institutional investors.
A number of analysts have commented on the stock. Roth Capital set a $40.00 price target on shares of PC Connection and gave the company a “buy” rating in a research report on Friday, August 3rd. BidaskClub raised shares of PC Connection from a “sell” rating to a “hold” rating in a research report on Tuesday, June 12th. ValuEngine raised shares of PC Connection from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. Zacks Investment Research raised shares of PC Connection from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, May 30th. Finally, Sidoti cut shares of PC Connection from a “buy” rating to a “neutral” rating in a research report on Monday, July 16th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $36.50.
PC Connection (NASDAQ:CNXN) last released its quarterly earnings data on Thursday, August 2nd. The company reported $0.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.05. The company had revenue of $706.57 million for the quarter, compared to analysts’ expectations of $696.68 million. PC Connection had a net margin of 2.24% and a return on equity of 11.73%. The business’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 EPS. equities research analysts expect that PC Connection, Inc. will post 2.51 EPS for the current fiscal year.
In other news, Director Negrini David Beffa sold 6,523 shares of the stock in a transaction dated Monday, August 13th. The shares were sold at an average price of $37.14, for a total transaction of $242,264.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 57.10% of the stock is owned by corporate insiders.
PC Connection 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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