PC Connection, Inc. (NASDAQ:CNXN) CEO Timothy J. Mcgrath sold 9,700 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $26.85, for a total value of $260,445.00. Following the completion of the sale, the chief executive officer now owns 207,207 shares in the company, valued at approximately $5,563,507.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
PC Connection, Inc. (NASDAQ CNXN) traded down $0.49 during midday trading on Tuesday, hitting $26.52. The stock had a trading volume of 26,912 shares, compared to its average volume of 37,990. The company has a market cap of $724.29, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.60 and a beta of 1.60. PC Connection, Inc. has a 12-month low of $23.52 and a 12-month high of $30.48.
PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Thursday, October 26th. The company reported $0.49 earnings per share for the quarter, meeting the consensus estimate of $0.49. The firm had revenue of $729.23 million for the quarter, compared to analysts’ expectations of $727.84 million. PC Connection had a return on equity of 10.84% and a net margin of 1.63%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. research analysts anticipate that PC Connection, Inc. will post 1.81 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers raised its holdings in PC Connection by 1.5% in the 2nd quarter. Rhumbline Advisers now owns 13,774 shares of the company’s stock worth $373,000 after purchasing an additional 205 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in PC Connection by 0.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 59,671 shares of the company’s stock worth $1,615,000 after purchasing an additional 394 shares during the period. The Manufacturers Life Insurance Company raised its holdings in PC Connection by 8.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,874 shares of the company’s stock worth $268,000 after purchasing an additional 790 shares during the period. Victory Capital Management Inc. raised its holdings in PC Connection by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 6,892 shares of the company’s stock worth $186,000 after purchasing an additional 1,033 shares during the period. Finally, Nordea Investment Management AB raised its holdings in PC Connection by 0.8% in the 2nd quarter. Nordea Investment Management AB now owns 133,700 shares of the company’s stock worth $3,618,000 after purchasing an additional 1,100 shares during the period. 41.10% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts have commented on CNXN shares. Zacks Investment Research downgraded PC Connection from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. ValuEngine upgraded PC Connection from a “hold” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded PC Connection from a “sell” rating to a “hold” rating in a research note on Wednesday, December 20th.
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PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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