PC Connection (NASDAQ:CNXN) Posts Earnings Results

PC Connection (NASDAQ:CNXN) announced its earnings results on Wednesday. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12), Zacks reports. PC Connection had a return on equity of 10.30% and a net margin of 3.23%.

PC Connection Trading Down 1.5 %

NASDAQ:CNXN traded down $1.07 during mid-day trading on Wednesday, hitting $71.73. 146,184 shares of the company’s stock were exchanged, compared to its average volume of 69,265. PC Connection has a fifty-two week low of $57.47 and a fifty-two week high of $77.19. The company has a 50 day simple moving average of $71.69 and a 200-day simple moving average of $71.42. The firm has a market capitalization of $1.89 billion, a P/E ratio of 21.04, a PEG ratio of 2.07 and a beta of 0.67.

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $70.00, for a total value of $350,000.00. Following the completion of the sale, the director now owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 56.50% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com upgraded PC Connection from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th.

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.