Tech Data Corporation (NASDAQ:TECD) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a report on Monday. Citigroup Inc. raised shares of Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price objective on the stock in a report on Friday, June 2nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 price objective on shares of Tech Data Corporation in a report on Thursday, June 1st. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $105.57.
Tech Data Corporation (TECD) traded up 0.07% during trading on Friday, reaching $101.41. 53,556 shares of the company were exchanged. Tech Data Corporation has a one year low of $67.67 and a one year high of $107.50. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 18.92 and a beta of 0.79. The firm’s 50 day moving average price is $103.85 and its 200-day moving average price is $95.41.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, June 1st. The company reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.53. The business had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.31 billion. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The company’s revenue was up 28.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. On average, equities research analysts predict that Tech Data Corporation will post $9.76 earnings per share for the current year.
In other news, CFO Alain Amsellem sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The stock was sold at an average price of $104.63, for a total transaction of $104,630.00. Following the sale, the chief financial officer now directly owns 26,379 shares in the company, valued at $2,760,034.77. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Harry J. Harczak, Jr. sold 1,440 shares of the company’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $98.83, for a total value of $142,315.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,888 shares of company stock worth $3,519,704. Company insiders own 1.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of Tech Data Corporation by 12,492.8% in the first quarter. BlackRock Inc. now owns 3,852,635 shares of the company’s stock valued at $361,763,000 after buying an additional 3,822,041 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Tech Data Corporation during the second quarter valued at $26,404,000. JPMorgan Chase & Co. boosted its stake in shares of Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after buying an additional 214,058 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in shares of Tech Data Corporation by 95.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 435,632 shares of the company’s stock valued at $43,999,000 after buying an additional 212,256 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Tech Data Corporation by 167.6% in the first quarter. Teachers Advisors LLC now owns 318,992 shares of the company’s stock valued at $29,953,000 after buying an additional 199,769 shares in the last quarter. Hedge funds and other institutional investors own 94.16% of the company’s stock.
About Tech Data Corporation
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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