PC Connection (NASDAQ:CNXN) Reaches New 12-Month High at $52.14

PC Connection, Inc. (NASDAQ:CNXN – Get Rating) hit a new 52-week high on Thursday . The company traded as high as $52.14 and last traded at $51.88, with a volume of 36909 shares traded. The stock had previously closed at $51.22.

A number of equities analysts have weighed in on CNXN shares. Zacks Investment Research raised PC Connection from a “hold” rating to a “strong-buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, February 9th. StockNews.com raised PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 9th. Finally, Sidoti raised PC Connection from a “neutral” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Monday, January 24th.

The company has a market cap of $1.38 billion, a P/E ratio of 19.83 and a beta of 0.62. The business has a fifty day moving average price of $46.89 and a 200-day moving average price of $46.05.

PC Connection (NASDAQ:CNXN – Get Rating) last issued its quarterly earnings data on Monday, February 7th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.15. PC Connection had a return on equity of 10.43% and a net margin of 2.42%. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, equities analysts predict that PC Connection, Inc. will post 2.9 earnings per share for the current year.

In other news, Chairman Patricia Gallup sold 1,444 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $49.78, for a total transaction of $71,882.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders have sold 34,685 shares of company stock valued at $1,600,594. Corporate insiders own 58.00% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in shares of PC Connection by 88.4% in the third quarter. Assenagon Asset Management S.A. now owns 25,357 shares of the company’s stock valued at $1,116,000 after buying an additional 11,895 shares during the period. SG Americas Securities LLC acquired a new position in PC Connection during the third quarter valued at approximately $650,000. State Street Corp raised its position in PC Connection by 2.6% during the second quarter. State Street Corp now owns 435,036 shares of the company’s stock valued at $20,129,000 after purchasing an additional 11,223 shares in the last quarter. Voya Investment Management LLC raised its position in PC Connection by 5.3% during the third quarter. Voya Investment Management LLC now owns 8,856 shares of the company’s stock valued at $390,000 after purchasing an additional 444 shares in the last quarter. Finally, Martingale Asset Management L P raised its position in PC Connection by 116.6% during the third quarter. Martingale Asset Management L P now owns 16,906 shares of the company’s stock valued at $745,000 after purchasing an additional 9,100 shares in the last quarter. Institutional investors and hedge funds own 41.32% of the company’s stock.

PC Connection Company Profile (NASDAQ:CNXN)

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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