A number of other equities analysts also recently weighed in on CNXN. Zacks Investment Research downgraded PC Connection from a buy rating to a hold rating in a research note on Wednesday, May 8th. BidaskClub downgraded PC Connection from a hold rating to a sell rating in a research note on Tuesday, July 23rd.
Shares of NASDAQ CNXN traded up $7.28 during midday trading on Thursday, reaching $39.85. The company’s stock had a trading volume of 120,108 shares, compared to its average volume of 52,750. PC Connection has a 12-month low of $27.04 and a 12-month high of $43.05. The firm has a 50 day moving average price of $34.27. The firm has a market cap of $858.52 million, a PE ratio of 16.81, a P/E/G ratio of 1.63 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 2.07.
Several hedge funds and other institutional investors have recently made changes to their positions in CNXN. New York State Teachers Retirement System purchased a new position in PC Connection in the first quarter valued at approximately $37,000. Great West Life Assurance Co. Can purchased a new position in PC Connection in the fourth quarter valued at approximately $58,000. Legal & General Group Plc lifted its stake in PC Connection by 23.6% in the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock valued at $67,000 after purchasing an additional 431 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in PC Connection by 345.9% in the first quarter. BNP Paribas Arbitrage SA now owns 2,399 shares of the company’s stock valued at $88,000 after purchasing an additional 1,861 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in PC Connection by 249.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,487 shares of the company’s stock valued at $91,000 after purchasing an additional 1,776 shares during the last quarter. Hedge funds and other institutional investors own 41.26% 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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