StockNews.com upgraded shares of PC Connection (NASDAQ:CNXN – Free Report) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.
PC Connection Trading Up 0.5 %
NASDAQ:CNXN opened at $62.11 on Thursday. PC Connection has a 12 month low of $37.76 and a 12 month high of $70.55. The firm’s 50 day moving average is $65.52 and its 200 day moving average is $62.78. The stock has a market capitalization of $1.64 billion, a PE ratio of 19.66, a price-to-earnings-growth ratio of 1.77 and a beta of 0.66.
PC Connection (NASDAQ:CNXN – Get Free Report) last issued its 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 firm had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. Research analysts predict that PC Connection will post 3.5 earnings per share for the current year.
PC Connection Increases Dividend
Institutional Trading of PC Connection
A number of institutional investors have recently modified their holdings of CNXN. Allspring Global Investments Holdings LLC raised its holdings in PC Connection by 34.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 95,358 shares of the company’s stock valued at $6,287,000 after acquiring an additional 24,539 shares during the period. Vanguard Group Inc. raised its stake in shares of PC Connection by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 1,026,043 shares of the company’s stock valued at $68,960,000 after purchasing an additional 27,960 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in PC Connection by 3.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,593 shares of the company’s stock worth $511,000 after purchasing an additional 250 shares in the last quarter. Legal & General Group Plc boosted its stake in PC Connection by 7.6% in the 4th quarter. Legal & General Group Plc now owns 33,331 shares of the company’s stock worth $2,240,000 after purchasing an additional 2,368 shares during the period. Finally, Barclays PLC grew its holdings in PC Connection by 69.5% during the 4th quarter. Barclays PLC now owns 27,461 shares of the company’s stock valued at $1,846,000 after buying an additional 11,259 shares in the last quarter. 42.85% of the stock is currently owned by hedge funds and other 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.
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