A number of other research firms have also commented on CNXN. BidaskClub upgraded shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research note on Monday, November 4th. Sidoti raised their price objective on shares of PC Connection from $53.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Zacks Investment Research upgraded shares of PC Connection from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a research note on Friday, November 1st.
Shares of NASDAQ CNXN traded up $0.47 during mid-day trading on Friday, reaching $50.89. 56,300 shares of the company traded hands, compared to its average volume of 66,183. PC Connection has a fifty-two week low of $27.11 and a fifty-two week high of $50.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.76 and a quick ratio of 2.27. The firm has a market cap of $1.32 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 2.05 and a beta of 1.12. The stock has a fifty day simple moving average of $42.65 and a 200-day simple moving average of $36.93.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.90 EPS for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.33. PC Connection had a net margin of 2.90% and a return on equity of 14.68%. The business had revenue of $729.41 million for the quarter, compared to analyst estimates of $688.20 million. During the same quarter last year, the business earned $0.51 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts predict that PC Connection will post 3.05 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of CNXN. Assetmark Inc. grew its position in PC Connection by 30.4% in the second quarter. Assetmark Inc. now owns 2,294 shares of the company’s stock worth $80,000 after buying an additional 535 shares during the last quarter. Nisa Investment Advisors LLC grew its position in PC Connection by 1,600.0% in the second quarter. Nisa Investment Advisors LLC now owns 4,250 shares of the company’s stock worth $149,000 after buying an additional 4,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PC Connection in the second quarter worth approximately $207,000. Petrus Trust Company LTA acquired a new position in PC Connection in the second quarter worth approximately $347,000. Finally, Alberta Investment Management Corp grew its position in PC Connection by 108.6% in the second quarter. Alberta Investment Management Corp now owns 12,100 shares of the company’s stock worth $423,000 after buying an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 41.18% of the company’s stock.
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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