IT solutions provider PC Connection's' gross profit rises, partly helped by data center modernization
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PC Connection reported a 2.2% decline in Q3 net sales year-over-year, while gross profit rose by 2.4%. Net income fell 8.6%, with diluted EPS at $0.97. The company repurchased 83,693 shares for $5.1 million. The Business Solutions segment saw a 1.7% sales increase, while the Public Sector Solutions segment experienced a 24.3% decline. Growth in gross profit is attributed to data center modernization and digital workplace transformation. Analysts rate the stock as a 'hold' with a 12-month price target of $76.00, reflecting a potential 17.8% increase from its recent closing price.
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