PC Connection (NASDAQ:CNXN) Stock Rating Lowered by StockNews.com

PC Connection (NASDAQ:CNXN) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Friday.

PC Connection Trading Down 0.8 %

PC Connection stock opened at $64.43 on Friday. PC Connection has a 12 month low of $38.13 and a 12 month high of $70.55. The stock’s 50 day moving average is $65.34 and its 200-day moving average is $63.13. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.87 and a beta of 0.66.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $696.47 million during the quarter, compared to analysts’ expectations of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. As a group, equities research analysts predict that PC Connection will post 3.48 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PC Connection

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank increased its holdings in shares of PC Connection by 1.6% during the third quarter. Swiss National Bank now owns 26,000 shares of the company’s stock worth $1,388,000 after buying an additional 400 shares in the last quarter. TD Asset Management Inc increased its holdings in shares of PC Connection by 4.5% during the fourth quarter. TD Asset Management Inc now owns 16,100 shares of the company’s stock worth $1,082,000 after buying an additional 700 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of PC Connection by 0.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 107,655 shares of the company’s stock worth $5,747,000 after buying an additional 708 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of PC Connection by 7.0% during the third quarter. Campbell & CO Investment Adviser LLC now owns 13,598 shares of the company’s stock worth $726,000 after buying an additional 892 shares in the last quarter. Finally, Arizona State Retirement System acquired a new position in shares of PC Connection during the fourth quarter worth $222,000. 42.85% of the stock is currently owned by institutional investors.

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.