PC Connection (NASDAQ:CNXN) announced its quarterly earnings results on Thursday. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.19, Bloomberg Earnings reports. PC Connection had a return on equity of 12.51% and a net margin of 2.44%. The firm had revenue of $741.10 million for the quarter, compared to analysts’ expectations of $719.44 million. During the same period in the prior year, the business posted $0.68 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year.
Shares of CNXN stock traded up $7.28 during trading hours on Friday, hitting $39.85. 120,108 shares of the company’s stock were exchanged, compared to its average volume of 47,196. The company has a 50-day moving average price of $34.27. The company has a current ratio of 2.60, a quick ratio of 2.07 and a debt-to-equity ratio of 0.02. The firm has a market cap of $862.21 million, a PE ratio of 16.81, a price-to-earnings-growth ratio of 1.64 and a beta of 1.16. PC Connection has a 52 week low of $27.04 and a 52 week high of $43.05.
Hedge funds have recently made changes to their positions in the company. New York State Teachers Retirement System bought a new stake in shares of PC Connection during the first quarter worth $37,000. Great West Life Assurance Co. Can bought a new stake in shares of PC Connection during the fourth quarter worth $58,000. Legal & General Group Plc grew its holdings in shares of PC Connection by 23.6% during the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock worth $67,000 after purchasing an additional 431 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of PC Connection by 345.9% during the first quarter. BNP Paribas Arbitrage SA now owns 2,399 shares of the company’s stock worth $88,000 after purchasing an additional 1,861 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC grew its holdings in shares of PC Connection by 249.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 2,487 shares of the company’s stock worth $91,000 after purchasing an additional 1,776 shares during the last quarter. Institutional investors own 41.26% 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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