PC Connection (NASDAQ:CNXN) Given Hold (C+) Rating at Weiss Ratings

Key Points

• PC Connection's stock received a "hold (C+)" rating from Weiss Ratings, maintaining a consensus "Hold" rating across analysts.
• In its recent quarterly results, PC Connection reported earnings of $0.97 per share, exceeding estimates but with revenue of $759.69 million falling short of projections.
• Significant changes in institutional ownership occurred, with Rhumbline Advisers increasing its stake by 17.3%, reflecting heightened interest in the stock among large investors.

PC Connection (NASDAQ:CNXN - Get Free Report)'s stock had its "hold (c+)" rating restated by research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen cut PC Connection from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has a consensus rating of "Hold".

PC Connection Price Performance

Shares of PC Connection stock traded up $1.04 during trading hours on Wednesday, reaching $60.71. The company's stock had a trading volume of 49,457 shares, compared to its average volume of 82,310. The firm has a 50 day moving average price of $62.61 and a 200-day moving average price of $63.96. The stock has a market cap of $1.54 billion, a P/E ratio of 18.51, a P/E/G ratio of 1.70 and a beta of 0.70. PC Connection has a one year low of $56.72 and a one year high of $75.84.

PC Connection (NASDAQ:CNXN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.91 by $0.06. PC Connection had a return on equity of 9.74% and a net margin of 2.97%.The company had revenue of $759.69 million during the quarter, compared to analyst estimates of $774.66 million. As a group, sell-side analysts forecast that PC Connection will post 3.33 EPS for the current fiscal year.

Institutional Trading of PC Connection

A number of large investors have recently made changes to their positions in the stock. Rhumbline Advisers increased its stake in PC Connection by 17.3% in the 1st quarter. Rhumbline Advisers now owns 100,200 shares of the company's stock worth $6,254,000 after buying an additional 14,768 shares during the period. Farther Finance Advisors LLC increased its position in shares of PC Connection by 23,450.0% during the first quarter. Farther Finance Advisors LLC now owns 471 shares of the company's stock worth $30,000 after acquiring an additional 469 shares during the period. GAMMA Investing LLC raised its stake in shares of PC Connection by 333.4% during the first quarter. GAMMA Investing LLC now owns 2,167 shares of the company's stock valued at $135,000 after acquiring an additional 1,667 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of PC Connection in the first quarter valued at approximately $339,000. Finally, Principal Financial Group Inc. grew its stake in PC Connection by 2.7% in the first quarter. Principal Financial Group Inc. now owns 65,537 shares of the company's stock worth $4,091,000 after purchasing an additional 1,695 shares in the last quarter. 42.85% of the stock is owned by hedge funds and other institutional investors.

About PC Connection

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.

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