PC Connection (NASDAQ:CNXN) Issues Quarterly Earnings Results

PC Connection (NASDAQ:CNXN) announced its quarterly earnings data on Wednesday. The company reported $0.97 EPS for the quarter, missing the consensus estimate of $1.01 by ($0.04), reports. The company had revenue of $724.72 million during the quarter, compared to the consensus estimate of $726.98 million. PC Connection had a return on equity of 10.42% and a net margin of 3.23%.

PC Connection Stock Up 1.9 %

NASDAQ CNXN opened at $64.88 on Friday. The company’s 50 day moving average is $72.32 and its 200-day moving average is $68.12. PC Connection has a 12-month low of $54.49 and a 12-month high of $77.19. The firm has a market cap of $1.71 billion, a P/E ratio of 19.03, a price-to-earnings-growth ratio of 1.92 and a beta of 0.62.

PC Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Tuesday, November 12th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Tuesday, November 12th. PC Connection’s dividend payout ratio (DPR) is currently 11.73%.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of PC Connection from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 29th.

Insider Activity

In other news, CEO Timothy J. Mcgrath sold 15,377 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $70.18, for a total value of $1,079,157.86. Following the sale, the chief executive officer now owns 277,691 shares of the company’s stock, valued at $19,488,354.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 56.90% of the company’s stock.

Hedge Funds Weigh In On PC Connection

Hedge funds have recently bought and sold shares of the company. Signaturefd LLC grew its stake in PC Connection by 328.1% during the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock valued at $37,000 after acquiring an additional 374 shares in the last quarter. CWM LLC grew its stake in PC Connection by 125.5% during the third quarter. CWM LLC now owns 850 shares of the company’s stock valued at $64,000 after acquiring an additional 473 shares in the last quarter. Innealta Capital LLC purchased a new position in PC Connection during the second quarter valued at approximately $60,000. nVerses Capital LLC grew its stake in PC Connection by 1,000.0% during the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock valued at $83,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Lazard Asset Management LLC grew its stake in PC Connection by 15,593.3% during the first quarter. Lazard Asset Management LLC now owns 2,354 shares of the company’s stock valued at $155,000 after acquiring an additional 2,339 shares in the last quarter. Hedge funds and other institutional investors own 42.85% of the company’s stock.

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.