PC Connection (NASDAQ:CNXN) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of PC Connection (NASDAQ:CNXN) from a hold rating to a sell rating in a research note issued to investors on Thursday morning, ValuEngine reports.

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.

PC Connection (NASDAQ:CNXN) last announced its earnings results on Thursday, August 1st. The company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.19. PC Connection had a return on equity of 13.43% and a net margin of 2.61%. The firm had revenue of $741.10 million for the quarter, compared to the consensus estimate of $719.44 million. During the same quarter in the previous year, the business earned $0.68 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that PC Connection will post 2.62 EPS for the current fiscal year.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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