Savvy Trades and Investments

[2morrowsGains]

PCMI...PCMI is in the midst of transforming into an ePlus kind of company...From PCMI's 11/6/2017 cc..."Over the past several years, we have executed our strategy of transforming the business from a traditional hardware reseller, formally known as PC Mall, to the higher value services and solutions provide that PCM is today." - "This year (2017), we have entered the second phase of our transformation, one that is global in nature, and one with a cohesive go-to-market strategy around cloud, security, and transformational consulting, and have just completed our Cisco Master Security Specialization enabling further technical capabilities to manage and deliver advanced security solutions.
Our focused investments in the growing segments of the IT market are resulting in gains in our services and corporate sales, and we continue to align our resources into areas that are faster growing, very significant to the market, and crucial to our customers' needs."
"Looking ahead to 2018, we are confident that our focus on cloud migration, security, managed services, software and the fastest-growing solutions and emerging technologies in the IT market positions us to grow faster-than-forecast for overall IT spending levels, and our goal is to grow our bottom lines faster than our top line."

Anyway, unless someone thinks PCMI is a complete fraud, you have to give some merit to that huge share buy back in Q3. IMO, it points to PCMI believing they will have strong growth in 2018 (Canada and the UK contributing). They averaged approx $13 a share buying back over 6.5% of their total shares outstanding!!! Seems pretty significant. If the share price recovers from here to just half of that, it will equal a 22%++ gain from the current $8.90 share price. If/when it recovers to the $13 PCMI paid, it's a 44% gain from here.
I think it's a good crap shoot in the $8's and think the reward outweighs the risk at this point. We'll see what happens.

Also, there has been talk of PCMI's high receivables, but if you look at PLUS, they also run high receivables.
I'm not an expert in the space, however, PCMI kind of reminds me of ePlus here.