PC Connection (CNXN) Downgraded by BidaskClub
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.
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.
Recommended Story: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for PC Connection Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection and related companies with MarketBeat.com's FREE daily email newsletter.