PC Connection, Inc. (NASDAQ:CNXN) issued its quarterly earnings results on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.28. The firm had revenue of $670.60 million for the quarter, compared to the consensus estimate of $671.86 million. PC Connection had a net margin of 1.79% and a return on equity of 12.20%. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year.
PC Connection (NASDAQ:CNXN) opened at 26.51 on Friday. PC Connection has a 52-week low of $21.59 and a 52-week high of $30.48. The company’s 50 day moving average is $28.60 and its 200-day moving average is $27.69. The firm has a market cap of $709.43 million, a P/E ratio of 15.24 and a beta of 1.23.
In related news, CEO Timothy J. Mcgrath sold 20,492 shares of the firm’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $28.60, for a total transaction of $586,071.20. Following the sale, the chief executive officer now directly owns 252,211 shares of the company’s stock, valued at $7,213,234.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy J. Mcgrath sold 30,477 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $27.14, for a total value of $827,145.78. Following the sale, the chief executive officer now directly owns 250,357 shares in the company, valued at $6,794,688.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,843 shares of company stock valued at $2,316,343. Company insiders own 57.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in shares of PC Connection during the first quarter valued at approximately $102,000. Metropolitan Life Insurance Co. NY acquired a new stake in shares of PC Connection during the first quarter valued at approximately $245,000. Credit Suisse AG acquired a new stake in shares of PC Connection during the first quarter valued at approximately $559,000. Teachers Advisors LLC acquired a new stake in shares of PC Connection during the first quarter valued at approximately $660,000. Finally, Bank of America Corp DE acquired a new stake in shares of PC Connection during the first quarter valued at approximately $1,331,000. 39.33% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently issued reports on the stock. Roth Capital restated a “buy” rating and issued a $32.00 price target on shares of PC Connection in a research report on Friday, April 21st. Zacks Investment Research downgraded shares of PC Connection from a “hold” rating to a “sell” rating in a research report on Monday, April 24th.
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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.
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