Municipal Employees Retirement System of Michigan boosted its position in PCM Inc (NASDAQ:PCMI) by 38.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,690 shares of the specialty retailer’s stock after buying an additional 31,330 shares during the quarter. Municipal Employees Retirement System of Michigan owned approximately 0.97% of PCM worth $1,126,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Royce & Associates LP grew its stake in PCM by 43.7% in the 4th quarter. Royce & Associates LP now owns 337,227 shares of the specialty retailer’s stock valued at $3,339,000 after buying an additional 102,500 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in PCM by 2,587.7% in the 3rd quarter. Wells Fargo & Company MN now owns 16,126 shares of the specialty retailer’s stock valued at $226,000 after purchasing an additional 15,526 shares during the period. Perritt Capital Management Inc. boosted its holdings in PCM by 17.4% in the 4th quarter. Perritt Capital Management Inc. now owns 268,883 shares of the specialty retailer’s stock valued at $2,662,000 after purchasing an additional 39,916 shares during the period. Highbridge Capital Management LLC bought a new stake in PCM in the 3rd quarter valued at $312,000. Finally, Icon Advisers Inc. Co. bought a new stake in PCM in the 3rd quarter valued at $1,362,000. Institutional investors and hedge funds own 57.62% of the company’s stock.
A number of brokerages have weighed in on PCMI. TheStreet downgraded shares of PCM from a “c” rating to a “d+” rating in a report on Thursday, March 8th. Roth Capital set a $15.00 price target on shares of PCM and gave the company a “buy” rating in a report on Thursday, March 8th. B. Riley set a $9.00 price target on shares of PCM and gave the company a “buy” rating in a report on Tuesday, March 6th. Zacks Investment Research raised shares of PCM from a “sell” rating to a “hold” rating in a report on Wednesday, February 21st. Finally, ValuEngine downgraded shares of PCM from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.00.
PCM (NASDAQ:PCMI) last released its quarterly earnings data on Wednesday, March 7th. The specialty retailer reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.39). The business had revenue of $563.45 million for the quarter, compared to the consensus estimate of $580.75 million. PCM had a return on equity of 11.33% and a net margin of 0.14%. research analysts anticipate that PCM Inc will post 1.78 earnings per share for the current fiscal year.
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PCM, Inc is a multi-vendor provider of technology solutions, including hardware products, software and services, offered through its dedicated sales force, field and internal service teams, direct marketing channels, and owned and operated data centers. The Company’s segments include Commercial, Public Sector, Canada and United Kingdom.
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