ValuEngine Lowers PC Connection (NASDAQ:CNXN) to Hold

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.

PC Connection (NASDAQ:CNXN) last released its earnings results on Thursday, October 26th. The company reported $0.49 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.49. PC Connection had a net margin of 1.63% and a return on equity of 10.84%. The firm had revenue of $729.23 million during the quarter, compared to analysts’ expectations of $727.84 million. During the same period in the prior year, the company earned $0.53 EPS. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. equities research analysts anticipate that PC Connection will post 1.81 EPS for the current year.

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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