Tech Data Corp. (TECD) Position Decreased by Genesee Valley Trust Co.
Genesee Valley Trust Co. cut its stake in shares of Tech Data Corp. (NASDAQ:TECD) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,729 shares of the company’s stock after selling 136 shares during the period. Genesee Valley Trust Co.’s holdings in Tech Data Corp. were worth $483,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Tech Data Corp. by 401.7% in the second quarter. BNP Paribas Arbitrage SA now owns 24,812 shares of the company’s stock valued at $1,783,000 after buying an additional 19,866 shares during the last quarter. Geode Capital Management LLC boosted its stake in Tech Data Corp. by 3.6% in the first quarter. Geode Capital Management LLC now owns 394,281 shares of the company’s stock valued at $30,267,000 after buying an additional 13,847 shares during the last quarter. State Street Corp boosted its stake in Tech Data Corp. by 1.9% in the first quarter. State Street Corp now owns 1,296,994 shares of the company’s stock valued at $99,574,000 after buying an additional 24,529 shares during the last quarter. Stifel Financial Corp boosted its stake in Tech Data Corp. by 4,881.8% in the fourth quarter. Stifel Financial Corp now owns 172,369 shares of the company’s stock valued at $13,866,000 after buying an additional 168,909 shares during the last quarter. Finally, UBS Group AG boosted its stake in Tech Data Corp. by 9.4% in the first quarter. UBS Group AG now owns 35,923 shares of the company’s stock valued at $2,758,000 after buying an additional 3,087 shares during the last quarter.
Tech Data Corp. (NASDAQ:TECD) traded up 1.30% during trading on Wednesday, reaching $86.19. The company had a trading volume of 993,884 shares. Tech Data Corp. has a one year low of $57.99 and a one year high of $88.70. The company has a market capitalization of $3.04 billion, a PE ratio of 13.99 and a beta of 0.95. The firm’s 50 day moving average is $76.83 and its 200 day moving average is $74.71.
Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. Tech Data Corp. had a net margin of 0.83% and a return on equity of 10.39%. The business earned $6.35 billion during the quarter, compared to analysts’ expectations of $6.63 billion. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Tech Data Corp.’s revenue was down 3.4% on a year-over-year basis. On average, equities research analysts predict that Tech Data Corp. will post $5.97 earnings per share for the current year.
TECD has been the topic of several recent analyst reports. Bank of America Corp. raised Tech Data Corp. from a “neutral” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded Tech Data Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Brean Capital reiterated a “buy” rating and set a $82.00 price objective on shares of Tech Data Corp. in a research report on Friday, August 26th. Credit Agricole SA upgraded Tech Data Corp. from an “underperform” rating to a “buy” rating in a research report on Tuesday. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Tech Data Corp. in a research report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $78.35.
About Tech Data Corp.
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.
Want to see what other hedge funds are holding TECD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tech Data Corp. (NASDAQ:TECD).
Receive News & Ratings for Tech Data Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corp. and related companies with MarketBeat.com's FREE daily email newsletter.