PC Connection (NASDAQ:CNXN) Upgraded at StockNews.com

PC Connection (NASDAQ:CNXN) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Thursday.

PC Connection Price Performance

Shares of CNXN opened at $61.82 on Thursday. The firm has a market capitalization of $1.63 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.79 and a beta of 0.66. PC Connection has a 1-year low of $37.76 and a 1-year high of $70.55. The company’s fifty day moving average price is $65.60 and its 200-day moving average price is $62.78.

PC Connection (NASDAQ:CNXN) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.02. The firm had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. As a group, research analysts anticipate that PC Connection will post 3.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its position in PC Connection by 6.2% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 3,402 shares of the company’s stock valued at $153,000 after purchasing an additional 198 shares during the period. Price T Rowe Associates Inc. MD lifted its position in PC Connection by 3.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,593 shares of the company’s stock valued at $511,000 after purchasing an additional 250 shares during the period. Tower Research Capital LLC TRC lifted its position in PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock valued at $35,000 after purchasing an additional 290 shares during the period. Swiss National Bank lifted its position in PC Connection by 1.6% during the third quarter. Swiss National Bank now owns 26,000 shares of the company’s stock valued at $1,388,000 after purchasing an additional 400 shares during the period. Finally, California State Teachers Retirement System lifted its position in PC Connection by 3.5% during the third quarter. California State Teachers Retirement System now owns 15,451 shares of the company’s stock valued at $697,000 after purchasing an additional 523 shares during the period. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.