PC Connection, Inc. (NASDAQ:CNXN) shares rose 6.2% on Monday . The company traded as high as $40.25 and last traded at $39.69, approximately 101,705 shares were traded during mid-day trading. A decline of 49% from the average daily volume of 197,939 shares. The stock had previously closed at $37.39.
A number of equities analysts recently commented on CNXN shares. BidaskClub upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, April 2nd. Zacks Investment Research upgraded shares of PC Connection from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Thursday, February 6th. ValuEngine raised PC Connection from a “sell” rating to a “hold” rating in a research note on Tuesday, March 17th. Finally, Sidoti cut their price objective on PC Connection from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Friday, March 27th.
The company has a debt-to-equity ratio of 0.02, a current ratio of 2.51 and a quick ratio of 2.11. The firm has a market cap of $985.03 million, a PE ratio of 13.00 and a beta of 1.02. The company’s 50 day moving average price is $38.96 and its 200 day moving average price is $44.80.
PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. PC Connection had a net margin of 2.91% and a return on equity of 14.51%. The company had revenue of $716.63 million during the quarter, compared to analysts’ expectations of $734.16 million. During the same quarter last year, the company posted $0.76 EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Sell-side analysts expect that PC Connection, Inc. will post 3.17 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of PC Connection by 85.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 916 shares of the company’s stock worth $45,000 after purchasing an additional 421 shares during the last quarter. Great West Life Assurance Co. Can purchased a new position in shares of PC Connection in the 4th quarter valued at about $52,000. Bank of Montreal Can raised its position in shares of PC Connection by 49.7% during the 4th quarter. Bank of Montreal Can now owns 1,596 shares of the company’s stock worth $79,000 after acquiring an additional 530 shares in the last quarter. SG Americas Securities LLC purchased a new stake in PC Connection during the fourth quarter worth approximately $114,000. Finally, New York State Teachers Retirement System purchased a new stake in PC Connection during the fourth quarter worth approximately $146,000. 41.06% of the stock is owned by institutional investors and hedge funds.
PC Connection Company Profile (NASDAQ:CNXN)
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.