PC Connection (NASDAQ:CNXN) Upgraded to “Hold” by BidaskClub

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PC Connection (NASDAQ:CNXN) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised PC Connection from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research report on Monday. ValuEngine downgraded PC Connection from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Sidoti raised PC Connection from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Friday, August 2nd.

CNXN opened at $36.74 on Tuesday. PC Connection has a 12-month low of $27.04 and a 12-month high of $43.05. The company has a quick ratio of 1.80, a current ratio of 2.35 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $34.64. The company has a market cap of $972.72 million, a P/E ratio of 13.90, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.19. PC Connection had a return on equity of 13.23% and a net margin of 2.61%. The business had revenue of $741.10 million for the quarter, compared to the consensus estimate of $719.44 million. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that PC Connection will post 2.73 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System bought a new stake in PC Connection during the first quarter valued at about $37,000. Great West Life Assurance Co. Can bought a new stake in PC Connection during the fourth quarter valued at about $58,000. Legal & General Group Plc boosted 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 valued at $67,000 after purchasing an additional 431 shares in the last quarter. BNP Paribas Arbitrage SA boosted 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 valued at $88,000 after purchasing an additional 1,861 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted 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 valued at $91,000 after purchasing an additional 1,776 shares in the last quarter. 41.25% of the stock is currently owned by institutional investors.

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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