StockNews.com Upgrades PC Connection (NASDAQ:CNXN) to “Strong-Buy”

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

PC Connection Trading Up 1.1 %

Shares of CNXN opened at $62.82 on Thursday. The firm’s 50-day moving average is $65.43 and its two-hundred day moving average is $62.84. PC Connection has a twelve month low of $37.76 and a twelve month high of $70.55. The firm has a market capitalization of $1.66 billion, a P/E ratio of 19.88, a PEG ratio of 1.77 and a beta of 0.66.

PC Connection (NASDAQ:CNXN) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.88 by $0.02. The business had revenue of $696.47 million for the quarter, compared to analyst estimates of $673.51 million. PC Connection had a net margin of 2.92% and a return on equity of 10.55%. Analysts predict that PC Connection will post 3.5 EPS for the current year.

Institutional Trading of PC Connection

Large investors have recently modified their holdings of the business. Coppell Advisory Solutions Corp. acquired a new stake in shares of PC Connection in the fourth quarter valued at approximately $25,000. Point72 Middle East FZE acquired a new stake in PC Connection during the fourth quarter worth approximately $28,000. Russell Investments Group Ltd. acquired a new stake in PC Connection during the first quarter worth approximately $28,000. Tower Research Capital LLC TRC boosted its position in PC Connection by 62.4% during the third quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock worth $35,000 after acquiring an additional 290 shares during the last quarter. Finally, Covestor Ltd boosted its position in PC Connection by 2,189.7% during the first quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after acquiring an additional 854 shares during the last quarter. 42.85% of the stock is currently owned by institutional investors and hedge funds.

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.