PC Connection's (CNXN) Hold (C+) Rating Reiterated at Weiss Ratings

Key Points

• PC Connection's stock has had its "hold (C+)" rating reiterated by Weiss Ratings, indicating a neutral sentiment from analysts.
• The company recently reported quarterly earnings that beat estimates, with an EPS of $0.97 compared to the consensus estimate of $0.91.
• Several large investors have increased their stakes in PC Connection, notably with Jacobs Levy Equity Management raising their holdings by 446.5% in the first quarter.

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

Separately, Wall Street Zen cut shares of PC Connection from a "buy" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

PC Connection Trading Up 0.1%

CNXN stock traded up $0.04 on Friday, hitting $62.70. The company's stock had a trading volume of 41,506 shares, compared to its average volume of 68,154. The firm has a 50 day moving average of $62.57 and a two-hundred day moving average of $63.91. PC Connection has a 1 year low of $56.72 and a 1 year high of $75.84. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.79 and a beta of 0.70.

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, beating the consensus estimate of $0.91 by $0.06. PC Connection had a net margin of 2.97% and a return on equity of 9.74%. The firm had revenue of $759.69 million during the quarter, compared to the consensus estimate of $774.66 million. As a group, equities analysts forecast that PC Connection will post 3.33 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in CNXN. Jacobs Levy Equity Management Inc. raised its holdings in PC Connection by 446.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 109,460 shares of the company's stock worth $6,832,000 after purchasing an additional 89,429 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of PC Connection by 65.3% during the 2nd quarter. Brown Advisory Inc. now owns 220,821 shares of the company's stock worth $14,526,000 after buying an additional 87,224 shares in the last quarter. Millennium Management LLC raised its stake in shares of PC Connection by 98.8% during the 1st quarter. Millennium Management LLC now owns 115,237 shares of the company's stock worth $7,193,000 after buying an additional 57,257 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of PC Connection during the 2nd quarter worth approximately $2,585,000. Finally, Bank of America Corp DE raised its position in PC Connection by 99.3% in the second quarter. Bank of America Corp DE now owns 78,340 shares of the company's stock worth $5,153,000 after acquiring an additional 39,041 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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