PC Connection (NASDAQ:CNXN) Posts Earnings Results, Beats Estimates By $0.19 EPS

PC Connection (NASDAQ:CNXNGet Rating) released its quarterly earnings results on Thursday. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.19, MarketWatch Earnings reports. PC Connection had a net margin of 2.42% and a return on equity of 10.43%. During the same quarter last year, the company posted $0.39 earnings per share.

PC Connection stock traded down $1.02 during mid-day trading on Friday, hitting $48.13. The company’s stock had a trading volume of 61,913 shares, compared to its average volume of 47,775. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 15.53 and a beta of 0.65. The business has a 50 day moving average price of $51.50 and a 200-day moving average price of $47.47. PC Connection has a 12 month low of $40.08 and a 12 month high of $54.79.

In other PC Connection news, Chairman Patricia Gallup sold 4,700 shares of the business’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $48.10, for a total value of $226,070.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 29,883 shares of company stock valued at $1,496,360 over the last three months. 58.00% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new position in shares of PC Connection during the fourth quarter valued at about $49,000. Squarepoint Ops LLC bought a new position in shares of PC Connection during the fourth quarter valued at about $262,000. Deutsche Bank AG raised its stake in shares of PC Connection by 5.6% during the fourth quarter. Deutsche Bank AG now owns 6,734 shares of the company’s stock valued at $290,000 after acquiring an additional 360 shares during the last quarter. Millennium Management LLC bought a new position in shares of PC Connection during the second quarter valued at about $370,000. Finally, Citigroup Inc. raised its stake in shares of PC Connection by 38.5% during the fourth quarter. Citigroup Inc. now owns 8,564 shares of the company’s stock valued at $369,000 after acquiring an additional 2,379 shares during the last quarter. 41.32% of the stock is owned by institutional investors and hedge funds.

CNXN has been the subject of a number of research analyst reports. Sidoti raised shares of PC Connection from a “neutral” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Monday, January 24th. Zacks Investment Research downgraded shares of PC Connection from a “strong-buy” rating to a “hold” rating in a report on Monday, April 11th. Finally, StockNews.com initiated coverage on shares of PC Connection in a report on Thursday, March 31st. They set a “strong-buy” rating for the company.

About PC Connection (Get Rating)

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.

Further Reading

Earnings History for PC Connection (NASDAQ:CNXN)

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.