PC Connection (NASDAQ:CNXN) Posts Earnings Results, Misses Expectations By $0.12 EPS

PC Connection (NASDAQ:CNXN) issued its earnings results on Wednesday. The company reported $0.78 earnings per share (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 %

Shares of CNXN stock traded down $1.07 during trading hours on Wednesday, reaching $71.73. The company’s stock had a trading volume of 146,184 shares, compared to its average volume of 69,269. The stock has a market capitalization of $1.89 billion, a P/E ratio of 21.04, a P/E/G ratio of 2.07 and a beta of 0.67. The firm’s fifty day simple moving average is $71.69 and its 200 day simple moving average is $71.42. PC Connection has a one year low of $57.47 and a one year high of $77.19.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, Director Negrini David Beffa sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 56.50% of the stock is currently owned by insiders.

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.