PC Connection (NASDAQ:CNXN) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of PC Connection (NASDAQ:CNXN) from a sell rating to a hold rating in a research note published on Saturday, BidAskClub reports.

Several other brokerages have also weighed in on CNXN. Zacks Investment Research upgraded PC Connection from a hold rating to a strong-buy rating and set a $46.00 price objective for the company in a research report on Monday, August 5th. ValuEngine lowered PC Connection from a hold rating to a sell rating in a research report on Thursday, August 1st. Finally, Sidoti upgraded PC Connection from a neutral rating to a buy rating and set a $44.00 price objective for the company in a research report on Friday, August 2nd.

Shares of PC Connection stock opened at $37.21 on Friday. The firm has a market capitalization of $982.45 million, a price-to-earnings ratio of 15.70, a PEG ratio of 1.71 and a beta of 1.10. PC Connection has a fifty-two week low of $27.04 and a fifty-two week high of $42.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.80 and a current ratio of 2.35. The stock has a 50 day moving average of $36.04 and a 200 day moving average of $35.60.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.19. The company had revenue of $741.10 million during the quarter, compared to analyst estimates of $719.44 million. PC Connection had a return on equity of 13.23% and a net margin of 2.61%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 earnings per share. Analysts forecast that PC Connection will post 2.73 EPS for the current year.

Institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new position in shares of PC Connection during the first quarter worth $37,000. Assetmark Inc. boosted its position in shares of PC Connection by 30.4% during the second quarter. Assetmark Inc. now owns 2,294 shares of the company’s stock worth $80,000 after buying an additional 535 shares during the period. BNP Paribas Arbitrage SA boosted its position 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 buying an additional 1,861 shares during the period. O Shaughnessy Asset Management LLC boosted its position 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 buying an additional 1,776 shares during the period. Finally, Cutler Group LP boosted its position in shares of PC Connection by 810.4% during the first quarter. Cutler Group LP now owns 3,552 shares of the company’s stock worth $130,000 after buying an additional 4,052 shares during the period. Institutional investors own 41.29% of the company’s stock.

About PC Connection

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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