PC Connection, Inc. (CNXN) Announces Earnings Results
PC Connection, Inc. (NASDAQ:CNXN) released its quarterly earnings results on Thursday. The company reported $0.49 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.49, Briefing.com reports. The firm had revenue of $729.23 million during the quarter, compared to analysts’ expectations of $727.84 million. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. PC Connection’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS.
PC Connection (CNXN) traded up 1.31% during trading on Thursday, hitting $27.16. The stock had a trading volume of 44,988 shares. PC Connection has a 52 week low of $22.31 and a 52 week high of $30.48. The firm has a market cap of $727.45 million, a PE ratio of 15.35 and a beta of 1.68. The company’s 50-day moving average is $27.36 and its 200 day moving average is $26.89.
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In other news, CEO Timothy J. Mcgrath sold 26,122 shares of PC Connection stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $25.82, for a total transaction of $674,470.04. Following the sale, the chief executive officer now owns 224,907 shares of the company’s stock, valued at approximately $5,807,098.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the director now directly owns 129,800 shares in the company, valued at approximately $3,374,800. The disclosure for this sale can be found here. Company insiders own 57.30% of the company’s stock.
A number of research firms have weighed in on CNXN. Zacks Investment Research cut PC Connection from a “hold” rating to a “sell” rating in a report on Friday, October 20th. ValuEngine cut PC Connection from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Roth Capital set a $33.00 target price on PC Connection and gave the company a “buy” rating in a research note on Friday, July 28th.
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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