PC Connection, Inc. (CNXN) Rating Lowered to Hold at ValuEngine

ValuEngine lowered shares of PC Connection, Inc. (NASDAQ:CNXN) from a buy rating to a hold rating in a research report report published on Friday morning.

A number of other research firms have also recently weighed in on CNXN. Zacks Investment Research cut 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 PC Connection and gave the stock a buy rating in a report on Friday, July 28th.

PC Connection (CNXN) opened at $25.94 on Friday. The stock has a market capitalization of $693.18, a P/E ratio of 14.13, a PEG ratio of 1.79 and a beta of 1.60. PC Connection has a one year low of $23.52 and a one year 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, hitting analysts’ consensus estimates of $0.49. The business 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 quarter in the prior year, the firm posted $0.53 EPS. analysts anticipate that PC Connection will post 1.81 EPS for the current year.

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In related news, Director Negrini David Beffa sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total value of $520,000.00. Following the sale, the director now owns 129,800 shares in the company, valued at approximately $3,374,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 57.30% of the company’s stock.

A number of large investors have recently made changes to their positions in CNXN. Vanguard Group Inc. acquired a new stake in PC Connection during the 1st quarter valued at $14,873,000. Renaissance Technologies LLC acquired a new stake in PC Connection during the 1st quarter valued at $5,374,000. Geode Capital Management LLC acquired a new stake in PC Connection during the 1st quarter valued at $4,707,000. Tributary Capital Management LLC grew its holdings in PC Connection by 68.2% during the 2nd quarter. Tributary Capital Management LLC now owns 385,128 shares of the company’s stock valued at $10,422,000 after buying an additional 156,106 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in PC Connection during the 1st quarter valued at $2,374,000. Hedge funds and other institutional investors own 41.63% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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