PC Connection, Inc. (CNXN) Announces Quarterly Earnings Results, Meets Estimates

PC Connection, Inc. (NASDAQ:CNXN) issued its quarterly earnings data on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.28. 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 firm’s quarterly revenue was up 17.2% on a year-over-year basis.

Shares of PC Connection (NASDAQ:CNXN) opened at 28.04 on Friday. The stock has a 50 day moving average price of $28.29 and a 200-day moving average price of $27.22. The stock has a market cap of $749.20 million, a P/E ratio of 15.58 and a beta of 1.23. PC Connection has a 12 month low of $21.59 and a 12 month high of $30.48.

Earnings History for PC Connection (NASDAQ:CNXN)

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Several research firms have weighed in on CNXN. Zacks Investment Research raised PC Connection from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Monday, February 6th. Roth Capital set a $30.00 price target on PC Connection and gave the stock a “buy” rating in a research report on Wednesday, February 1st.

In other news, CEO Timothy J. Mcgrath sold 55,325 shares of PC Connection stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $27.36, for a total transaction of $1,513,692.00. Following the transaction, the chief executive officer now directly owns 245,684 shares of the company’s stock, valued at $6,721,914.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy J. Mcgrath sold 30,477 shares of PC Connection stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $27.14, for a total transaction of $827,145.78. Following the transaction, the chief executive officer now directly owns 250,357 shares in the company, valued at $6,794,688.98. The disclosure for this sale can be found here. Over the last three months, insiders have sold 151,007 shares of company stock worth $4,177,201. Insiders own 57.90% of the company’s stock.

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.

5 Day Chart for NASDAQ:CNXN

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