PCM Inc. (PCMI) Hits New 12-Month High at $20.02
PCM Inc. (NASDAQ:PCMI) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $20.02 and last traded at $19.38, with a volume of 128,218 shares changing hands. The stock had previously closed at $19.20.
A number of research firms recently commented on PCMI. Roth Capital downgraded shares of PCM from a “buy” rating to a “neutral” rating in a research report on Thursday, August 25th. B. Riley reaffirmed a “buy” rating and issued a $17.00 target price on shares of PCM in a research report on Saturday, July 30th. Zacks Investment Research raised shares of PCM from a “hold” rating to a “strong-buy” rating and set a $18.00 target price on the stock in a research report on Saturday, July 30th. Finally, TheStreet raised shares of PCM from a “sell” rating to a “hold” rating in a research report on Friday, May 27th.
The firm has a 50 day moving average price of $17.91 and a 200 day moving average price of $11.99. The firm’s market capitalization is $227.37 million.
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PCM (NASDAQ:PCMI) last posted its earnings results on Wednesday, July 27th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.29. PCM had a negative net margin of 0.38% and a positive return on equity of 10.27%. The business had revenue of $581 million for the quarter, compared to analysts’ expectations of $478.87 million. On average, equities analysts forecast that PCM Inc. will post $1.57 earnings per share for the current year.
In other news, Director Ronald B. Reck sold 19,466 shares of the business’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $16.13, for a total transaction of $313,986.58. Following the transaction, the director now directly owns 40,966 shares of the company’s stock, valued at $660,781.58. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas A. Maloof sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $18.63, for a total transaction of $74,520.00. Following the transaction, the director now directly owns 73,500 shares in the company, valued at $1,369,305. The disclosure for this sale can be found here. Insiders own 30.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Weber Alan W boosted its position in PCM by 2.8% in the second quarter. Weber Alan W now owns 25,700 shares of the company’s stock worth $286,000 after buying an additional 700 shares during the last quarter. Royal Bank of Canada boosted its position in PCM by 28.6% in the second quarter. Royal Bank of Canada now owns 37,158 shares of the company’s stock worth $414,000 after buying an additional 8,256 shares during the last quarter. Bank of New York Mellon Corp boosted its position in PCM by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 46,261 shares of the company’s stock worth $515,000 after buying an additional 373 shares during the last quarter. Mork Capital Management LLC purchased a new position in PCM during the second quarter worth approximately $557,000. Finally, Renaissance Technologies LLC boosted its position in PCM by 29.8% in the first quarter. Renaissance Technologies LLC now owns 128,200 shares of the company’s stock worth $1,028,000 after buying an additional 29,400 shares during the last quarter. 34.72% of the stock is currently owned by institutional investors and hedge funds.
PCM Company Profile
PCM, Inc is engaged in providing technology products, services and solutions through direct marketing channels, and owned and operated data centers. The Company offers technology products, solutions and other consumer products. Its segments include Commercial, Public Sector, MacMall, Canada, and Corporate & Other.
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