PC Connection (NASDAQ:CNXN) Stock Rating Lowered by StockNews.com

PC Connection (NASDAQ:CNXNGet Free Report) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

PC Connection Stock Up 2.5 %

Shares of NASDAQ CNXN opened at $66.04 on Wednesday. PC Connection has a twelve month low of $37.76 and a twelve month high of $70.45. The firm has a fifty day simple moving average of $65.49 and a 200 day simple moving average of $58.18. The company has a market capitalization of $1.73 billion, a PE ratio of 22.24, a P/E/G ratio of 1.91 and a beta of 0.68.

Insider Buying and Selling

In related news, CFO Thomas C. Baker sold 5,000 shares of PC Connection stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $64.28, for a total transaction of $321,400.00. Following the completion of the transaction, the chief financial officer now owns 22,648 shares of the company’s stock, valued at $1,455,813.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 56.90% of the stock is owned by insiders.

Institutional Investors Weigh In On PC Connection

Several hedge funds and other institutional investors have recently bought and sold shares of CNXN. Pacer Advisors Inc. increased its stake in PC Connection by 65.0% in the fourth quarter. Pacer Advisors Inc. now owns 672,203 shares of the company’s stock valued at $45,179,000 after purchasing an additional 264,687 shares in the last quarter. Brown Advisory Inc. increased its stake in PC Connection by 76.4% in the second quarter. Brown Advisory Inc. now owns 349,608 shares of the company’s stock valued at $15,767,000 after purchasing an additional 151,466 shares in the last quarter. Vanguard Group Inc. increased its position in shares of PC Connection by 8.5% during the third quarter. Vanguard Group Inc. now owns 869,443 shares of the company’s stock worth $39,204,000 after acquiring an additional 68,430 shares in the last quarter. Rhumbline Advisers increased its position in shares of PC Connection by 151.5% during the third quarter. Rhumbline Advisers now owns 93,488 shares of the company’s stock worth $4,990,000 after acquiring an additional 56,310 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of PC Connection by 99.2% during the first quarter. AQR Capital Management LLC now owns 86,970 shares of the company’s stock worth $3,910,000 after acquiring an additional 43,306 shares in the last quarter. 41.77% of the stock is owned by institutional investors.

PC Connection Company Profile

(Get Free Report)

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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