PC Connection (NASDAQ:CNXN) Rating Lowered to Hold at StockNews.com

PC Connection (NASDAQ:CNXN) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

PC Connection Stock Up 0.7 %

Shares of CNXN traded up $0.49 during trading on Wednesday, reaching $70.38. 59,331 shares of the company traded hands, compared to its average volume of 80,429. The stock has a market cap of $1.85 billion, a PE ratio of 20.64, a price-to-earnings-growth ratio of 2.07 and a beta of 0.63. The stock has a 50-day simple moving average of $72.28 and a 200-day simple moving average of $68.95. PC Connection has a twelve month low of $57.47 and a twelve month high of $77.19.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in PC Connection by 1.4% in the first quarter. Vanguard Group Inc. now owns 1,040,881 shares of the company’s stock valued at $68,625,000 after acquiring an additional 14,838 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of PC Connection during the first quarter worth $281,000. Lazard Asset Management LLC raised its stake in PC Connection by 15,593.3% in the first quarter. Lazard Asset Management LLC now owns 2,354 shares of the company’s stock valued at $155,000 after buying an additional 2,339 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in PC Connection by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 8,092 shares of the company’s stock worth $534,000 after buying an additional 499 shares during the last quarter. Finally, Summit Global Investments acquired a new position in shares of PC Connection during the 2nd quarter worth about $505,000. Institutional investors and hedge funds own 42.85% 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.