ValuEngine cut shares of PC Connection (NASDAQ:CNXN) from a buy rating to a hold rating in a research note published on Friday, November 10th.
Several other equities research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of PC Connection from a hold rating to a sell rating in a report on Friday, October 20th. Roth Capital set a $33.00 price target on shares of PC Connection and gave the company a buy rating in a research report on Friday, July 28th.
PC Connection (NASDAQ CNXN) traded up $0.40 during midday trading on Friday, hitting $27.75. 27,000 shares of the company traded hands, compared to its average volume of 46,759. The company has a market cap of $706.59, a P/E ratio of 14.40, a P/E/G ratio of 1.82 and a beta of 1.60. PC Connection has a fifty-two week low of $23.52 and a fifty-two week high of $30.48.
In other news, Director Negrini David Beffa sold 20,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the sale, the director now directly owns 129,800 shares in the company, valued at $3,374,800. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Timothy J. Mcgrath sold 5,805 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $26.85, for a total value of $155,864.25. The disclosure for this sale can be found here. 57.30% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in PC Connection in the first quarter valued at approximately $102,000. Dubuque Bank & Trust Co. boosted its holdings in shares of PC Connection by 64.9% during the 2nd quarter. Dubuque Bank & Trust Co. now owns 5,779 shares of the company’s stock worth $156,000 after buying an additional 2,275 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of PC Connection by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 6,892 shares of the company’s stock worth $186,000 after buying an additional 1,033 shares in the last quarter. American International Group Inc. bought a new position in shares of PC Connection during the 1st quarter worth approximately $208,000. Finally, Cigna Investments Inc. New bought a new position in shares of PC Connection during the 2nd quarter worth approximately $215,000. Institutional investors own 41.30% of the company’s stock.
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About PC Connection
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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