PC Connection (NASDAQ:CNXN) Raised to Buy at StockNews.com

PC Connection (NASDAQ:CNXN) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

PC Connection Trading Down 0.6 %

Shares of CNXN stock opened at $72.58 on Thursday. The stock has a market cap of $1.91 billion, a P/E ratio of 21.45, a P/E/G ratio of 2.16 and a beta of 0.63. PC Connection has a 12 month low of $57.47 and a 12 month high of $77.19. The company has a 50 day simple moving average of $72.18 and a two-hundred day simple moving average of $69.30.

Insider Activity

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were 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 directly owns 71,750 shares of the company’s stock, valued at $5,022,500. This represents a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 56.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of PC Connection by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after purchasing an additional 14,838 shares during the last quarter. Lazard Asset Management LLC boosted 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 buying an additional 2,339 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in PC Connection by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,092 shares of the company’s stock valued at $534,000 after buying an additional 499 shares in the last quarter. Summit Global Investments bought a new stake in PC Connection in the 2nd quarter worth approximately $505,000. Finally, Bailard Inc. purchased a new stake in shares of PC Connection during the 2nd quarter worth approximately $494,000. 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.