PC Connection (NASDAQ:CNXN) Upgraded at StockNews.com

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

PC Connection Trading Down 0.8 %

Shares of CNXN opened at $61.82 on Thursday. The business’s fifty day simple moving average is $65.60 and its two-hundred day simple moving average is $62.78. PC Connection has a 12 month low of $37.76 and a 12 month high of $70.55. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 19.56, a P/E/G ratio of 1.79 and a beta of 0.66.

PC Connection (NASDAQ:CNXN) last issued its 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 the consensus estimate of $673.51 million. PC Connection had a return on equity of 10.55% and a net margin of 2.92%. As a group, research analysts forecast that PC Connection will post 3.5 EPS for the current year.

Hedge Funds Weigh In On PC Connection

Hedge funds and other institutional investors have recently modified their holdings of the company. Coppell Advisory Solutions Corp. bought a new position in shares of PC Connection during the 4th quarter valued at $25,000. Point72 Middle East FZE bought a new position in shares of PC Connection during the 4th quarter valued at $28,000. Russell Investments Group Ltd. bought a new position in shares of PC Connection during the 1st quarter valued at $28,000. Tower Research Capital LLC TRC lifted its holdings in shares of PC Connection by 62.4% during the 3rd quarter. Tower Research Capital LLC TRC now owns 755 shares of the company’s stock valued at $35,000 after buying an additional 290 shares during the period. Finally, Covestor Ltd raised its holdings in PC Connection by 2,189.7% in the 1st quarter. Covestor Ltd now owns 893 shares of the company’s stock worth $47,000 after purchasing an additional 854 shares during the period. 42.85% of the stock is owned by institutional investors.

PC Connection Company 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.