Tech Data Sees Unusually High Options Volume (NASDAQ:TECD)

Tech Data Corp (NASDAQ:TECD) saw unusually large options trading on Thursday. Stock investors bought 3,363 call options on the stock. This is an increase of 421% compared to the average volume of 646 call options.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Tech Data during the fourth quarter valued at approximately $2,310,000. Norges Bank bought a new stake in shares of Tech Data during the fourth quarter valued at approximately $58,667,000. Mason Street Advisors LLC increased its position in shares of Tech Data by 0.9% during the fourth quarter. Mason Street Advisors LLC now owns 18,841 shares of the company’s stock valued at $2,706,000 after purchasing an additional 171 shares during the period. Profund Advisors LLC increased its position in shares of Tech Data by 6.6% during the fourth quarter. Profund Advisors LLC now owns 3,839 shares of the company’s stock valued at $551,000 after purchasing an additional 236 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Tech Data by 37.5% during the fourth quarter. Alliancebernstein L.P. now owns 193,273 shares of the company’s stock valued at $27,754,000 after purchasing an additional 52,754 shares during the period. Institutional investors and hedge funds own 95.26% of the company’s stock.

Shares of NASDAQ TECD opened at $133.90 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $136.23 and its two-hundred day moving average is $130.67. The company has a market cap of $4.68 billion, a P/E ratio of 12.97 and a beta of 1.08. Tech Data has a 12 month low of $80.20 and a 12 month high of $151.47.

Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, March 5th. The company reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.06. The business had revenue of $10.38 billion for the quarter, compared to analysts’ expectations of $10.38 billion. Tech Data had a return on equity of 15.43% and a net margin of 1.01%. Tech Data’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business posted $4.55 earnings per share. Sell-side analysts expect that Tech Data will post 12.73 earnings per share for the current fiscal year.

Several research analysts have commented on TECD shares. ValuEngine downgraded Tech Data from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. Northcoast Research raised Tech Data from a “neutral” rating to a “buy” rating and set a $145.00 price target on the stock in a research report on Wednesday, March 18th. Finally, BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, March 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Tech Data presently has a consensus rating of “Hold” and an average price target of $119.00.

Tech Data Company Profile

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.

Further Reading: What are the Different Types of Leveraged Buyouts?

Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.