Yorktown Management & Research Co Inc bought a new position in Tech Data Corporation (NASDAQ:TECD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,100 shares of the company’s stock, valued at approximately $631,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balasa Dinverno & Foltz LLC increased its holdings in Tech Data by 0.6% during the second quarter. Balasa Dinverno & Foltz LLC now owns 5,365 shares of the company’s stock valued at $542,000 after buying an additional 34 shares during the last quarter. Oakbrook Investments LLC increased its stake in shares of Tech Data by 3.0% in the second quarter. Oakbrook Investments LLC now owns 2,575 shares of the company’s stock worth $260,000 after purchasing an additional 75 shares in the last quarter. Amalgamated Bank increased its stake in shares of Tech Data by 1.6% in the second quarter. Amalgamated Bank now owns 4,990 shares of the company’s stock worth $504,000 after purchasing an additional 80 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Tech Data by 2.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after purchasing an additional 117 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Tech Data by 1.4% during the second quarter. Ameritas Investment Partners Inc. now owns 13,405 shares of the company’s stock worth $1,354,000 after acquiring an additional 187 shares during the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.
Tech Data Corporation (TECD) traded up $0.78 during trading hours on Thursday, hitting $96.12. 334,312 shares of the stock were exchanged, compared to its average volume of 447,506. Tech Data Corporation has a twelve month low of $81.42 and a twelve month high of $111.10. The company has a market cap of $3,680.00, a PE ratio of 11.85, a P/E/G ratio of 0.48 and a beta of 0.78. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66.
Tech Data (NASDAQ:TECD) last released its earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. Tech Data’s revenue for the quarter was up 40.8% on a year-over-year basis. During the same period last year, the business earned $1.44 EPS. equities analysts expect that Tech Data Corporation will post 9.14 earnings per share for the current fiscal year.
In other Tech Data news, COO Richard T. Hume sold 3,100 shares of Tech Data stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.60% of the company’s stock.
A number of brokerages recently weighed in on TECD. Citigroup restated a “hold” rating and set a $100.00 target price on shares of Tech Data in a research report on Friday, September 1st. ValuEngine upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, November 29th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective (down previously from $107.00) on shares of Tech Data in a research report on Monday, September 18th. Raymond James Financial restated a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Finally, Loop Capital restated a “buy” rating and issued a $120.00 target price (down previously from $130.00) on shares of Tech Data in a report on Friday, September 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $112.33.
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About Tech Data
Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.
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