PC Connection (NASDAQ:CNXN – Get Free Report) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday.
PC Connection Trading Up 1.5 %
Shares of CNXN opened at $73.08 on Thursday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 1.94 and a beta of 0.61. PC Connection has a 1-year low of $51.63 and a 1-year high of $76.39. The company’s fifty day simple moving average is $67.50 and its 200 day simple moving average is $66.09.
PC Connection (NASDAQ:CNXN – Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.17. PC Connection had a net margin of 3.22% and a return on equity of 10.51%. The firm had revenue of $736.48 million during the quarter, compared to analysts’ expectations of $703.50 million. As a group, research analysts forecast that PC Connection will post 3.55 earnings per share for the current year.
Insiders Place Their Bets
Institutional Investors Weigh In On PC Connection
A number of institutional investors have recently modified their holdings of CNXN. Truist Financial Corp bought a new stake in shares of PC Connection in the fourth quarter valued at about $352,000. Charles Schwab Investment Management Inc. boosted its position in shares of PC Connection by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 232,936 shares of the company’s stock valued at $15,656,000 after acquiring an additional 3,812 shares during the period. TD Asset Management Inc boosted its position in shares of PC Connection by 4.5% in the fourth quarter. TD Asset Management Inc now owns 16,100 shares of the company’s stock valued at $1,082,000 after acquiring an additional 700 shares during the period. Campbell & CO Investment Adviser LLC boosted its position in shares of PC Connection by 80.7% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 24,577 shares of the company’s stock valued at $1,652,000 after acquiring an additional 10,979 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of PC Connection by 34.7% in the first 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. Institutional investors own 42.85% 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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