PC Connection, Inc. (NASDAQ:CNXN) posted its earnings results on Thursday. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.03. The firm earned $670.60 million during the quarter, compared to analysts’ expectations of $671.86 million. PC Connection had a return on equity of 12.20% and a net margin of 1.79%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year.
Shares of PC Connection (NASDAQ:CNXN) traded up 2.22% during midday trading on Thursday, reaching $28.04. The company’s stock had a trading volume of 43,849 shares. The stock’s 50 day moving average price is $28.29 and its 200 day moving average price is $27.22. The firm has a market cap of $749.20 million, a price-to-earnings ratio of 15.58 and a beta of 1.23. PC Connection has a one year low of $21.59 and a one year high of $30.48.
CNXN has been the topic of a number of recent research reports. Zacks Investment Research downgraded PC Connection from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 4th. Roth Capital set a $30.00 price objective on PC Connection and gave the company a “buy” rating in a research report on Wednesday, February 1st.
In related news, CEO Timothy J. Mcgrath sold 12,839 shares of PC Connection stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $27.04, for a total value of $347,166.56. Following the completion of the sale, the chief executive officer now owns 245,634 shares in the company, valued at approximately $6,641,943.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy J. Mcgrath sold 15,922 shares of PC Connection stock in a transaction that occurred on Tuesday, April 4th. The shares were sold at an average price of $29.14, for a total transaction of $463,967.08. Following the completion of the sale, the chief executive officer now owns 225,841 shares of the company’s stock, valued at approximately $6,581,006.74. The disclosure for this sale can be found here. Insiders sold a total of 151,007 shares of company stock valued at $4,177,201 in the last quarter. 57.90% of the stock is owned by insiders.
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PC Connection Company Profile
PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.
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