PCM Inc. (NASDAQ:PCMI) – Stock analysts at B. Riley lifted their Q2 2017 earnings per share estimates for shares of PCM in a research report issued on Thursday. B. Riley analyst K. Anderson now forecasts that the brokerage will post earnings per share of $0.50 for the quarter, up from their prior forecast of $0.49. B. Riley currently has a “Buy” rating and a $22.00 price objective on the stock. B. Riley also issued estimates for PCM’s Q4 2017 earnings at $0.62 EPS and FY2017 earnings at $1.78 EPS.
PCM (NASDAQ:PCMI) last announced its earnings results on Wednesday, July 27th. The company reported $0.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.29. The firm earned $581 million during the quarter, compared to analyst estimates of $478.87 million. PCM had a negative net margin of 0.38% and a positive return on equity of 10.27%.
A number of other brokerages have also commented on PCMI. Zacks Investment Research upgraded shares of PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a report on Saturday, July 30th. Roth Capital started coverage on shares of PCM in a report on Thursday, July 21st. They set a “buy” rating and a $16.00 price target on the stock.
PCM (NASDAQ:PCMI) opened at 19.89 on Friday. The firm’s market capitalization is $232.16 million. The company has a 50-day moving average of $18.19 and a 200-day moving average of $12.18. PCM has a 52 week low of $7.48 and a 52 week high of $20.02.
In other news, CFO Brandon H. Laverne sold 30,000 shares of PCM stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $16.99, for a total transaction of $509,700.00. Following the transaction, the chief financial officer now owns 12,879 shares in the company, valued at $218,814.21. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas A. Maloof sold 2,500 shares of PCM stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $19.00, for a total transaction of $47,500.00. Following the transaction, the director now owns 68,000 shares in the company, valued at approximately $1,292,000. The disclosure for this sale can be found here. Insiders own 30.50% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Stifel Financial Corp purchased a new position in shares of PCM during the second quarter worth $3,788,000. Mork Capital Management LLC purchased a new position in shares of PCM during the second quarter worth $557,000. Royce & Associates LP increased its position in shares of PCM by 4.0% in the second quarter. Royce & Associates LP now owns 1,065,356 shares of the company’s stock worth $11,868,000 after buying an additional 40,668 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of PCM by 29.8% in the first quarter. Renaissance Technologies LLC now owns 128,200 shares of the company’s stock worth $1,028,000 after buying an additional 29,400 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock worth $414,000 after buying an additional 8,256 shares in the last quarter. 34.72% of the stock is owned by institutional investors and hedge funds.
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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