PC Connection, Inc. (NASDAQ:CNXN) Director Negrini David Beffa sold 3,477 shares of the business’s stock in a transaction that occurred on Wednesday, June 13th. The shares were sold at an average price of $32.00, for a total value of $111,264.00. Following the sale, the director now owns 126,823 shares in the company, valued at $4,058,336. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
CNXN stock traded up $0.14 during trading on Thursday, hitting $31.70. The company had a trading volume of 1,300 shares, compared to its average volume of 43,753. The firm has a market cap of $848.80 million, a price-to-earnings ratio of 17.17, a P/E/G ratio of 1.63 and a beta of 1.43. PC Connection, Inc. has a fifty-two week low of $22.66 and a fifty-two week high of $32.00.
PC Connection (NASDAQ:CNXN) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.06. The business had revenue of $624.90 million for the quarter, compared to analyst estimates of $689.01 million. PC Connection had a return on equity of 11.19% and a net margin of 2.05%. PC Connection’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. research analysts anticipate that PC Connection, Inc. will post 2.44 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in PC Connection by 3.3% in the 1st quarter. Royal Bank of Canada now owns 327,009 shares of the company’s stock valued at $8,175,000 after buying an additional 10,583 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in PC Connection by 2.7% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 208,571 shares of the company’s stock valued at $5,214,000 after buying an additional 5,450 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in PC Connection by 11.4% in the 1st quarter. Russell Investments Group Ltd. now owns 71,607 shares of the company’s stock valued at $1,790,000 after buying an additional 7,344 shares in the last quarter. Matarin Capital Management LLC acquired a new stake in PC Connection in the 1st quarter valued at $1,827,000. Finally, Cigna Investments Inc. New boosted its stake in PC Connection by 34.6% in the 1st quarter. Cigna Investments Inc. New now owns 10,967 shares of the company’s stock valued at $274,000 after buying an additional 2,818 shares in the last quarter. 40.48% of the stock is currently owned by institutional investors and hedge funds.
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.
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