Seizert Capital Partners LLC cut its position in PC Connection, Inc. (NASDAQ:CNXN) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,516 shares of the company’s stock after selling 2,173 shares during the period. Seizert Capital Partners LLC’s holdings in PC Connection were worth $1,732,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of CNXN. Bank of America Corp DE raised its stake in shares of PC Connection by 20.7% during the 4th quarter. Bank of America Corp DE now owns 75,625 shares of the company’s stock worth $2,248,000 after purchasing an additional 12,945 shares in the last quarter. Legal & General Group Plc raised its stake in shares of PC Connection by 23.6% during the 4th quarter. Legal & General Group Plc now owns 2,255 shares of the company’s stock worth $67,000 after purchasing an additional 431 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of PC Connection during the 1st quarter worth about $323,000. BNP Paribas Arbitrage SA raised its stake in shares of PC Connection by 345.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,399 shares of the company’s stock worth $88,000 after purchasing an additional 1,861 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of PC Connection during the 1st quarter worth about $184,000. Institutional investors own 41.62% of the company’s stock.
Shares of CNXN stock traded down $1.37 during trading on Friday, reaching $35.30. The company had a trading volume of 52,565 shares, compared to its average volume of 69,329. The firm’s 50 day simple moving average is $35.05 and its two-hundred day simple moving average is $36.02. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.35 and a quick ratio of 1.80. PC Connection, Inc. has a one year low of $27.04 and a one year high of $43.05. The company has a market capitalization of $965.08 million, a PE ratio of 14.89, a PEG ratio of 1.68 and a beta of 1.16.
PC Connection (NASDAQ:CNXN) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.19. PC Connection had a return on equity of 13.23% and a net margin of 2.61%. The business had revenue of $741.10 million for the quarter, compared to the consensus estimate of $719.44 million. During the same period last year, the business earned $0.68 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts forecast that PC Connection, Inc. will post 2.73 earnings per share for the current year.
A number of research analysts recently weighed in on CNXN shares. Zacks Investment Research raised PC Connection from a “hold” rating to a “strong-buy” rating and set a $46.00 price objective on the stock in a research note on Monday, August 5th. ValuEngine downgraded PC Connection from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Sidoti raised PC Connection from a “neutral” rating to a “buy” rating and set a $44.00 price objective on the stock in a research note on Friday, August 2nd. Finally, BidaskClub downgraded PC Connection from a “hold” rating to a “sell” rating in a research note on Friday, August 16th.
PC Connection 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.
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