PC Connection (NASDAQ:CNXN) Downgraded by StockNews.com to Buy

PC Connection (NASDAQ:CNXN) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued on Friday.

PC Connection Trading Up 2.2 %

Shares of NASDAQ CNXN opened at $69.06 on Friday. The stock has a 50 day moving average of $62.28 and a 200-day moving average of $67.37. The company has a market capitalization of $1.75 billion, a P/E ratio of 20.99, a P/E/G ratio of 1.96 and a beta of 0.67. PC Connection has a 12 month low of $56.82 and a 12 month high of $77.19.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.18. PC Connection had a return on equity of 9.74% and a net margin of 3.11%. The firm had revenue of $701.05 million for the quarter, compared to analyst estimates of $646.37 million. Analysts predict that PC Connection will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ieq Capital LLC lifted its holdings in shares of PC Connection by 3.5% in the 4th quarter. Ieq Capital LLC now owns 6,596 shares of the company’s stock worth $457,000 after purchasing an additional 224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PC Connection by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,588 shares of the company’s stock worth $456,000 after buying an additional 234 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of PC Connection by 8.3% in the fourth quarter. EntryPoint Capital LLC now owns 3,220 shares of the company’s stock valued at $223,000 after buying an additional 248 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of PC Connection by 4.2% in the fourth quarter. Vident Advisory LLC now owns 6,934 shares of the company’s stock valued at $480,000 after buying an additional 277 shares in the last quarter. Finally, Rhumbline Advisers grew its holdings in shares of PC Connection by 0.4% during the fourth quarter. Rhumbline Advisers now owns 85,432 shares of the company’s stock valued at $5,918,000 after buying an additional 298 shares during the last quarter. Institutional investors and hedge funds own 42.85% of the company’s stock.

PC Connection Company Profile

PC Connection, Inc, together with its subsidiaries, provides a range of information technology (IT) solutions. The company operates through three segments: Business Solutions, Enterprise Solutions, and Public Sector Solutions. It offers IT products, such as computer systems, software and peripheral equipment, networking communications, and other products and accessories.