Royce & Associates LP decreased its stake in shares of PCM Inc (NASDAQ:PCMI) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,753 shares of the specialty retailer’s stock after selling 7,774 shares during the quarter. Royce & Associates LP owned approximately 3.88% of PCM worth $9,223,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bank of America Corp DE grew its position in shares of PCM by 919.3% in the 2nd quarter. Bank of America Corp DE now owns 7,798 shares of the specialty retailer’s stock worth $118,000 after buying an additional 7,033 shares during the last quarter. O Shaughnessy Asset Management LLC purchased a new position in shares of PCM in the 3rd quarter worth approximately $217,000. Laurion Capital Management LP purchased a new position in shares of PCM in the 2nd quarter worth approximately $187,000. First Trust Advisors LP purchased a new position in shares of PCM in the 3rd quarter worth approximately $252,000. Finally, Engineers Gate Manager LP purchased a new position in shares of PCM in the 3rd quarter worth approximately $287,000. Institutional investors own 57.01% of the company’s stock.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of PCM from a “buy” rating to a “hold” rating in a research report on Thursday, October 25th. B. Riley lifted their price objective on shares of PCM from $25.00 to $27.00 and gave the stock a “buy” rating in a research report on Thursday, October 25th. Finally, BidaskClub downgraded shares of PCM from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 7th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $20.67.
NASDAQ:PCMI opened at $18.93 on Friday. The company has a market cap of $240.23 million, a price-to-earnings ratio of 11.17, a P/E/G ratio of 0.48 and a beta of 0.85. PCM Inc has a twelve month low of $6.90 and a twelve month high of $25.23. The company has a current ratio of 1.03, a quick ratio of 0.91 and a debt-to-equity ratio of 0.21.
PCM (NASDAQ:PCMI) last released its earnings results on Wednesday, October 24th. The specialty retailer reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.11. The company had revenue of $510.58 million for the quarter, compared to the consensus estimate of $555.46 million. PCM had a net margin of 0.65% and a return on equity of 16.16%. On average, equities research analysts expect that PCM Inc will post 2.07 earnings per share for the current year.
PCM, Inc, through its subsidiaries, operates as a multi-vendor provider of technology products and solutions in the United States and the rest of Europe. The company operates through four segments: Commercial, Public Sector, Canada, and United Kingdom. It primarily sells device products, servers, storage products, network products, printers, and related accessories and devices.
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