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

PC Connection (NASDAQ:CNXN) announced its earnings results on Wednesday. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.12), Zacks reports. PC Connection had a net margin of 3.23% and a return on equity of 10.30%. During the same quarter in the previous year, the company posted $0.90 earnings per share.

PC Connection Stock Performance

PC Connection stock traded down $4.89 during midday trading on Thursday, hitting $66.85. 6,857 shares of the company’s stock were exchanged, compared to its average volume of 66,443. PC Connection has a 12 month low of $57.47 and a 12 month high of $77.19. The firm has a 50-day moving average of $71.67 and a two-hundred day moving average of $71.43. The company has a market cap of $1.76 billion, a PE ratio of 19.60, a P/E/G ratio of 2.07 and a beta of 0.67.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. Following the completion of the transaction, the director now directly owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. This trade represents a 6.51 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 56.50% 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.