Other analysts also recently issued research reports about the company. Sidoti raised PC Connection from a neutral rating to a buy rating and set a $44.00 price target on the stock in a research note on Friday, August 2nd. ValuEngine downgraded PC Connection from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research raised PC Connection from a hold rating to a strong-buy rating and set a $46.00 price target on the stock in a research note on Monday, August 5th.
Shares of CNXN traded up $0.60 during midday trading on Friday, hitting $35.10. The stock had a trading volume of 68,800 shares, compared to its average volume of 62,199. The company has a 50 day simple moving average of $34.94 and a two-hundred day simple moving average of $35.97. PC Connection has a twelve month low of $27.04 and a twelve month high of $43.05. The firm has a market cap of $923.83 million, a price-to-earnings ratio of 14.81, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.35 and a quick ratio of 1.80.
Several large investors have recently added to or reduced their stakes in CNXN. New York State Teachers Retirement System acquired a new position in PC Connection during the first quarter worth approximately $37,000. Legal & General Group Plc increased its position in PC Connection by 23.6% during the fourth quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock worth $67,000 after buying an additional 431 shares during the last quarter. Assetmark Inc. increased its position in 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 last quarter. BNP Paribas Arbitrage SA increased its position in 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 last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in 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 last quarter. 41.80% of the stock is currently owned by institutional investors and hedge funds.
PC Connection Company Profile
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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