PC Connection (NASDAQ:CNXN) Upgraded 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 research report issued on Thursday.

PC Connection Price Performance

NASDAQ CNXN opened at $73.05 on Thursday. The firm has a market cap of $1.92 billion, a P/E ratio of 21.42, a P/E/G ratio of 2.17 and a beta of 0.63. The stock’s 50-day moving average is $72.26 and its 200-day moving average is $69.25. PC Connection has a one year low of $57.47 and a one year high of $77.19.

Insider Transactions at PC Connection

In related news, Director Negrini David Beffa sold 5,000 shares of PC Connection 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 sale, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 56.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PC Connection

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC raised its position in PC Connection by 7.2% in the 3rd quarter. Geode Capital Management LLC now owns 346,130 shares of the company’s stock valued at $26,113,000 after buying an additional 23,358 shares during the last quarter. Barclays PLC raised its position in PC Connection by 178.7% in the 3rd quarter. Barclays PLC now owns 36,002 shares of the company’s stock valued at $2,717,000 after buying an additional 23,084 shares during the last quarter. Jane Street Group LLC raised its position in PC Connection by 195.9% in the 3rd quarter. Jane Street Group LLC now owns 24,040 shares of the company’s stock valued at $1,813,000 after buying an additional 15,916 shares during the last quarter. State Street Corp raised its position in PC Connection by 7.4% in the 3rd quarter. State Street Corp now owns 495,611 shares of the company’s stock valued at $37,384,000 after buying an additional 34,248 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in PC Connection in the 3rd quarter valued at approximately $28,000. Institutional investors and hedge funds own 42.85% of the company’s stock.

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.