BidaskClub downgraded shares of PC Connection (NASDAQ:CNXN) from a hold rating to a sell rating in a research report released on Wednesday morning, BidAskClub reports.

Several other research firms have also issued reports on CNXN. Zacks Investment Research upgraded PC Connection from a hold rating to a buy rating and set a $38.00 price target on the stock in a research report on Friday, February 8th. Sidoti lowered PC Connection from a buy rating to a neutral rating and set a $40.00 price target on the stock. in a research report on Friday, February 15th. Finally, ValuEngine lowered PC Connection from a buy rating to a hold rating in a research report on Monday, April 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. PC Connection has an average rating of Hold and an average target price of $40.00.

CNXN opened at $34.20 on Wednesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.07 and a current ratio of 2.60. PC Connection has a 1 year low of $27.04 and a 1 year high of $43.05. The company has a market cap of $899.11 million, a P/E ratio of 14.43, a P/E/G ratio of 1.71 and a beta of 1.06.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.46 by $0.04. PC Connection had a return on equity of 12.51% and a net margin of 2.44%. The business had revenue of $632.92 million for the quarter, compared to analyst estimates of $647.08 million. During the same period last year, the company earned $0.42 EPS. PC Connection’s revenue for the quarter was up 1.3% compared to the same quarter last year. Research analysts forecast that PC Connection will post 2.5 earnings per share for the current fiscal year.

In related news, Director Negrini David Beffa sold 12,300 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $40.14, for a total transaction of $493,722.00. Following the transaction, the director now directly owns 109,500 shares in the company, valued at approximately $4,395,330. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 57.70% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. New York State Teachers Retirement System purchased a new stake in PC Connection in the 1st quarter worth approximately $37,000. Quantamental Technologies LLC purchased a new stake in PC Connection in the 4th quarter worth approximately $39,000. Metropolitan Life Insurance Co NY lifted its holdings in PC Connection by 9.4% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 4,782 shares of the company’s stock worth $48,000 after buying an additional 409 shares during the period. Great West Life Assurance Co. Can purchased a new stake in PC Connection in the 4th quarter worth approximately $58,000. Finally, Assetmark Inc. purchased a new stake in PC Connection in the 1st quarter worth approximately $65,000. Institutional investors and hedge funds own 41.15% 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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