Tech Data Corp. (TECD) Stake Boosted by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in Tech Data Corp. (NASDAQ:TECD) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,525,069 shares of the company’s stock after buying an additional 332,980 shares during the period. Vanguard Group Inc. owned 10.02% of Tech Data Corp. worth $253,276,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new position in Tech Data Corp. during the second quarter worth approximately $32,170,000. JPMorgan Chase & Co. increased its position in shares of Tech Data Corp. by 73.3% in the first quarter. JPMorgan Chase & Co. now owns 850,627 shares of the company’s stock worth $65,302,000 after buying an additional 359,668 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Tech Data Corp. by 48.5% in the second quarter. Prudential Financial Inc. now owns 521,514 shares of the company’s stock worth $37,471,000 after buying an additional 170,305 shares during the last quarter. Foundry Partners LLC purchased a new position in shares of Tech Data Corp. during the second quarter worth about $7,541,000. Finally, Oxford Asset Management increased its position in shares of Tech Data Corp. by 172.2% in the second quarter. Oxford Asset Management now owns 140,672 shares of the company’s stock worth $10,107,000 after buying an additional 88,984 shares during the last quarter.
Shares of Tech Data Corp. (NASDAQ:TECD) opened at 81.18 on Thursday. Tech Data Corp. has a 1-year low of $57.99 and a 1-year high of $88.70. The company has a 50-day moving average of $78.93 and a 200-day moving average of $75.57. The firm has a market capitalization of $2.86 billion, a PE ratio of 13.18 and a beta of 0.90.
Tech Data Corp. (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.43 by $0.01. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.43 EPS. Equities research analysts predict that Tech Data Corp. will post $5.94 EPS for the current fiscal year.
A number of brokerages have recently issued reports on TECD. Citigroup Inc. lifted their price objective on shares of Tech Data Corp. from $59.00 to $80.00 and gave the stock a “sell” rating in a research report on Thursday, September 22nd. Zacks Investment Research raised shares of Tech Data Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, September 15th. Bank of America Corp. raised shares of Tech Data Corp. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $67.00 to $80.00 in a research report on Tuesday, August 30th. They noted that the move was a valuation call. Needham & Company LLC reaffirmed a “hold” rating on shares of Tech Data Corp. in a research report on Friday, August 26th. Finally, Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Tech Data Corp. in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $90.87.
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.
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