Taylor Cottrill Erickson & Associates Inc. Cuts Position in PC Connection, Inc. (CNXN)

Taylor Cottrill Erickson & Associates Inc. lowered its stake in PC Connection, Inc. (NASDAQ:CNXN) by 10.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 15,700 shares of the company’s stock after selling 1,800 shares during the period. Taylor Cottrill Erickson & Associates Inc. owned about 0.06% of PC Connection worth $425,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNXN. Legal & General Group Plc acquired a new position in PC Connection during the first quarter valued at about $102,000. Dubuque Bank & Trust Co. acquired a new position in PC Connection during the first quarter valued at about $104,000. Acadian Asset Management LLC acquired a new position in PC Connection during the first quarter valued at about $173,000. Victory Capital Management Inc. acquired a new position in PC Connection during the first quarter valued at about $175,000. Finally, First Quadrant L P CA acquired a new position in PC Connection during the first quarter valued at about $185,000. 40.65% of the stock is owned by hedge funds and other institutional investors.

Shares of PC Connection, Inc. (NASDAQ CNXN) opened at 24.42 on Friday. PC Connection, Inc. has a 12 month low of $22.31 and a 12 month high of $30.48. The firm has a market capitalization of $654.07 million, a PE ratio of 13.80 and a beta of 1.63. The company has a 50 day moving average price of $26.13 and a 200-day moving average price of $27.27.

PC Connection (NASDAQ:CNXN) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. The business had revenue of $749.79 million during the quarter, compared to the consensus estimate of $733.18 million. PC Connection had a return on equity of 11.39% and a net margin of 1.66%. The company’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. Equities research analysts expect that PC Connection, Inc. will post $1.96 EPS for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Taylor Cottrill Erickson & Associates Inc. Cuts Position in PC Connection, Inc. (CNXN)” was published by BNB Daily and is the sole property of of BNB Daily. If you are accessing this piece of content on another domain, it was illegally stolen and reposted in violation of U.S. and international copyright laws. The original version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/taylor-cottrill-erickson-associates-inc-sells-1800-shares-of-pc-connection-inc-cnxn-updated-updated.html.

Several research firms have recently issued reports on CNXN. Zacks Investment Research cut PC Connection from a “hold” rating to a “sell” rating in a research report on Monday, April 24th. Roth Capital reaffirmed a “buy” rating and set a $32.00 price objective on shares of PC Connection in a research report on Friday, April 21st.

In related news, CEO Timothy J. Mcgrath sold 26,122 shares of PC Connection stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $25.82, for a total value of $674,470.04. Following the completion of the transaction, the chief executive officer now directly owns 224,907 shares in the company, valued at $5,807,098.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 57.30% of the stock is currently owned by company insiders.

PC Connection Company Profile

PC Connection, Inc is a provider of a range of information technology (IT) solutions. The Company conducts its business operations through three business segments: small- to medium-sized businesses (SMB), Large Account and Public Sector. The Company enables customers to design, enable, manage and service their IT environments.

Institutional Ownership by Quarter for PC Connection (NASDAQ:CNXN)

Receive News & Ratings for PC Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PC Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply