PC Connection, Inc. (CNXN) Director Negrini David Beffa Sells 20,000 Shares
PC Connection, Inc. (NASDAQ:CNXN) Director Negrini David Beffa sold 20,000 shares of PC Connection stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $26.00, for a total value of $520,000.00. Following the completion of the sale, the director now directly owns 129,800 shares in the company, valued at approximately $3,374,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of PC Connection, Inc. (NASDAQ CNXN) traded up 0.31% during trading on Thursday, hitting $26.16. The stock had a trading volume of 34,226 shares. PC Connection, Inc. has a 52-week low of $22.31 and a 52-week high of $30.48. The firm has a market cap of $700.67 million, a price-to-earnings ratio of 14.79 and a beta of 1.63. The firm’s 50-day moving average is $25.50 and its 200 day moving average is $27.00.
PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. The firm had revenue of $749.79 million during the quarter, compared to analysts’ expectations of $733.18 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. On average, analysts expect that PC Connection, Inc. will post $1.96 EPS for the current year.
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Several large investors have recently bought and sold shares of CNXN. Dimensional Fund Advisors LP acquired a new stake in shares of PC Connection in the first quarter valued at approximately $66,560,000. Royce & Associates LP acquired a new stake in shares of PC Connection in the first quarter valued at approximately $55,730,000. Vanguard Group Inc. acquired a new stake in shares of PC Connection in the first quarter valued at approximately $14,873,000. Tributary Capital Management LLC acquired a new stake in shares of PC Connection in the first quarter valued at approximately $6,823,000. Finally, Renaissance Technologies LLC acquired a new stake in shares of PC Connection in the first quarter valued at approximately $5,374,000. 41.38% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on CNXN shares. Roth Capital set a $33.00 target price on PC Connection and gave the stock a “buy” rating in a report on Friday, July 28th. Zacks Investment Research upgraded PC Connection from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a report on Friday, September 1st.
PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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