$755.14 Million in Sales Expected for PC Connection, Inc. (CNXN) This Quarter

Analysts predict that PC Connection, Inc. (NASDAQ:CNXN) will announce sales of $755.14 million for the current quarter, according to Zacks. Two analysts have made estimates for PC Connection’s earnings, with the highest sales estimate coming in at $770.00 million and the lowest estimate coming in at $740.27 million. PC Connection reported sales of $735.55 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.7%. The firm is scheduled to report its next quarterly earnings report after the market closes on Thursday, February 15th.

According to Zacks, analysts expect that PC Connection will report full year sales of $755.14 million for the current year, with estimates ranging from $2.89 billion to $2.92 billion. For the next year, analysts forecast that the business will report sales of $3.01 billion per share, with estimates ranging from $2.97 billion to $3.05 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for PC Connection.

CNXN has been the subject of several research reports. BidaskClub raised PC Connection from a “sell” rating to a “hold” rating in a report on Wednesday, December 20th. Zacks Investment Research lowered PC Connection from a “hold” rating to a “sell” rating in a report on Friday, October 20th. Finally, ValuEngine raised PC Connection from a “hold” rating to a “buy” rating in a report on Tuesday, October 31st.

In other news, CEO Timothy J. Mcgrath sold 9,700 shares of the firm’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $26.85, for a total value of $260,445.00. Following the completion of the transaction, the chief executive officer now directly owns 207,207 shares of the company’s stock, valued at $5,563,507.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy J. Mcgrath sold 5,805 shares of the firm’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $26.85, for a total value of $155,864.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,628 shares of company stock valued at $447,259. 57.30% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of PC Connection by 141.7% in the third quarter. JPMorgan Chase & Co. now owns 10,501 shares of the company’s stock worth $291,000 after acquiring an additional 6,157 shares during the period. ClariVest Asset Management LLC boosted its holdings in shares of PC Connection by 3.4% in the third quarter. ClariVest Asset Management LLC now owns 186,715 shares of the company’s stock worth $5,265,000 after acquiring an additional 6,225 shares during the period. IndexIQ Advisors LLC boosted its holdings in shares of PC Connection by 83.0% in the third quarter. IndexIQ Advisors LLC now owns 29,093 shares of the company’s stock worth $820,000 after acquiring an additional 13,192 shares during the period. Alliancebernstein L.P. bought a new position in shares of PC Connection in the second quarter worth $262,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of PC Connection by 11.4% in the second quarter. Goldman Sachs Group Inc. now owns 38,886 shares of the company’s stock worth $1,052,000 after acquiring an additional 3,975 shares during the period. 40.64% of the stock is owned by hedge funds and other institutional investors.

Shares of PC Connection (NASDAQ CNXN) opened at $25.40 on Thursday. The company has a market capitalization of $697.21, a P/E ratio of 14.21, a P/E/G ratio of 1.54 and a beta of 1.52. PC Connection has a 52-week low of $22.66 and a 52-week high of $30.48.

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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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