PC Connection (NASDAQ:CNXN) released its earnings results on Thursday. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.14, Bloomberg Earnings reports. The firm had revenue of $709.50 million during the quarter, compared to analyst estimates of $693.49 million. PC Connection had a return on equity of 11.54% and a net margin of 2.33%. The business’s quarterly revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 earnings per share.
CNXN stock traded up $4.71 during trading on Friday, reaching $38.32. 404 shares of the stock traded hands, compared to its average volume of 43,854. PC Connection has a 52-week low of $23.07 and a 52-week high of $43.05. The company has a market cap of $898.40 million, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.73 and a beta of 0.99.
The company also recently declared a special dividend, which was paid on Friday, January 11th. Shareholders of record on Friday, December 28th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, December 27th.
Several hedge funds and other institutional investors have recently modified their holdings of CNXN. BlackRock Inc. boosted its position in shares of PC Connection by 12.0% in the third quarter. BlackRock Inc. now owns 1,080,154 shares of the company’s stock worth $42,007,000 after buying an additional 115,955 shares during the period. Matarin Capital Management LLC purchased a new position in PC Connection in the third quarter valued at about $4,440,000. James Investment Research Inc. boosted its holdings in PC Connection by 62.6% in the third quarter. James Investment Research Inc. now owns 149,125 shares of the company’s stock valued at $5,799,000 after purchasing an additional 57,410 shares during the last quarter. AQR Capital Management LLC boosted its holdings in PC Connection by 328.4% in the third quarter. AQR Capital Management LLC now owns 74,449 shares of the company’s stock valued at $2,895,000 after purchasing an additional 57,070 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in PC Connection by 35,181.8% in the fourth quarter. Bank of Montreal Can now owns 56,098 shares of the company’s stock valued at $1,668,000 after purchasing an additional 55,939 shares during the last quarter. 41.05% of the stock is owned by institutional investors.
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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.
See Also: Earnings Per Share (EPS)
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