DekaBank Deutsche Girozentrale acquired a new position in Tech Data Corp (NASDAQ:TECD) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,229 shares of the company’s stock, valued at approximately $126,000.
Other large investors have also modified their holdings of the company. Stevens Capital Management LP bought a new position in shares of Tech Data in the 2nd quarter worth approximately $335,000. Robeco Institutional Asset Management B.V. raised its stake in Tech Data by 13.0% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 135,733 shares of the company’s stock worth $14,198,000 after acquiring an additional 15,563 shares during the period. IndexIQ Advisors LLC bought a new stake in Tech Data during the 1st quarter worth approximately $1,614,000. Crossmark Global Holdings Inc. grew its holdings in Tech Data by 5.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 6,613 shares of the company’s stock valued at $677,000 after buying an additional 350 shares in the last quarter. Finally, Empirical Finance LLC grew its holdings in Tech Data by 0.9% during the 2nd quarter. Empirical Finance LLC now owns 27,770 shares of the company’s stock valued at $2,905,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 97.45% of the company’s stock.
In other news, Director Thomas I. Morgan sold 2,000 shares of Tech Data stock in a transaction on Friday, June 21st. The stock was sold at an average price of $100.51, for a total transaction of $201,020.00. Following the completion of the sale, the director now directly owns 17,491 shares in the company, valued at $1,758,020.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John A. Tonnison sold 4,000 shares of Tech Data stock in a transaction on Friday, June 28th. The stock was sold at an average price of $102.30, for a total value of $409,200.00. Following the sale, the vice president now owns 29,657 shares of the company’s stock, valued at $3,033,911.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,200 shares of company stock valued at $819,858. Corporate insiders own 1.10% of the company’s stock.
TECD has been the subject of a number of recent research reports. BidaskClub lowered shares of Tech Data from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Citigroup cut their target price on shares of Tech Data from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, May 31st. ValuEngine lowered shares of Tech Data from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Tech Data from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a report on Friday. Three analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Tech Data presently has an average rating of “Hold” and a consensus price target of $98.00.
Shares of TECD opened at $85.99 on Tuesday. The company has a market cap of $3.17 billion, a PE ratio of 7.56, a P/E/G ratio of 2.52 and a beta of 1.14. The business has a fifty day moving average of $95.00 and a 200 day moving average of $100.04. Tech Data Corp has a 52-week low of $66.93 and a 52-week high of $111.08. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.
Tech Data (NASDAQ:TECD) last released its earnings results on Thursday, May 30th. The company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.06. Tech Data had a return on equity of 15.28% and a net margin of 0.98%. The business had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the company earned $1.84 earnings per share. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Tech Data Corp will post 11.98 earnings per share for the current fiscal year.
About Tech Data
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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