PC Connection (NASDAQ:CNXN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “PC Connection, Inc. is a direct marketer of brand-name personal computers and related peripherals, software, and networking products to business, education, government, and consumer end users located primarily in the United States. “

Other equities research analysts have also recently issued reports about the company. BidaskClub raised PC Connection from a “sell” rating to a “hold” rating in a research report on Wednesday, December 20th. ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research report on Friday, November 10th.

Shares of PC Connection (CNXN) traded up $0.01 during midday trading on Wednesday, reaching $26.54. 22,273 shares of the company’s stock were exchanged, compared to its average volume of 46,803. PC Connection has a 52 week low of $23.52 and a 52 week high of $30.48. The firm has a market cap of $711.42, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.84 and a beta of 1.59.

PC Connection (NASDAQ:CNXN) last issued its quarterly earnings results on Thursday, October 26th. The company reported $0.49 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.49. The company had revenue of $729.23 million during the quarter, compared to the consensus estimate of $727.84 million. PC Connection had a net margin of 1.63% and a return on equity of 10.84%. PC Connection’s revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 EPS. equities analysts anticipate that PC Connection will post 1.81 EPS for the current fiscal year.

In other news, CEO Timothy J. Mcgrath sold 5,805 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.85, for a total value of $155,864.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara Duckett sold 1,123 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $27.56, for a total value of $30,949.88. Following the completion of the sale, the director now owns 15,877 shares of the company’s stock, valued at $437,570.12. The disclosure for this sale can be found here. Corporate insiders own 57.30% of the company’s stock.

Several large investors have recently made changes to their positions in CNXN. Kennedy Capital Management Inc. acquired a new position in shares of PC Connection during the 2nd quarter worth approximately $1,922,000. Morgan Stanley acquired a new position in shares of PC Connection during the 1st quarter worth approximately $1,870,000. New Amsterdam Partners LLC NY acquired a new position in shares of PC Connection during the 3rd quarter worth approximately $1,688,000. Shell Asset Management Co. bought a new stake in PC Connection in the 3rd quarter valued at $1,040,000. Finally, Vanguard Group Inc. boosted its stake in PC Connection by 8.5% in the 2nd quarter. Vanguard Group Inc. now owns 541,510 shares of the company’s stock valued at $14,653,000 after purchasing an additional 42,259 shares during the period. Institutional investors own 41.10% of the company’s stock.

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About PC Connection

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

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