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

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

PC Connection Stock Performance

CNXN stock opened at $72.58 on Thursday. The firm has a 50 day moving average price of $72.18 and a 200-day moving average price of $69.30. PC Connection has a 52-week low of $57.47 and a 52-week high of $77.19. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 2.16 and a beta of 0.63.

Insider Transactions at PC Connection

In other PC Connection news, Director Negrini David Beffa sold 5,000 shares of PC Connection stock in a transaction dated 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 transaction, the director now directly owns 71,750 shares of the company’s stock, valued at approximately $5,022,500. The trade was a 6.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 56.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Point72 DIFC Ltd purchased a new position in PC Connection in the 3rd quarter worth about $28,000. Signaturefd LLC grew its stake in shares of PC Connection by 328.1% in the third quarter. Signaturefd LLC now owns 488 shares of the company’s stock worth $37,000 after acquiring an additional 374 shares during the period. Innealta Capital LLC purchased a new position in shares of PC Connection during the second quarter valued at approximately $60,000. CWM LLC lifted its position 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 purchasing an additional 473 shares during the period. Finally, nVerses Capital LLC boosted its holdings in PC Connection by 1,000.0% in the third quarter. nVerses Capital LLC now owns 1,100 shares of the company’s stock worth $83,000 after purchasing an additional 1,000 shares during the last quarter. 42.85% of the stock is owned by institutional investors.

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.