TIAA CREF Investment Management LLC Has $21.66 Million Position in Tech Data Corporation (TECD)
TIAA CREF Investment Management LLC boosted its position in Tech Data Corporation (NASDAQ:TECD) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 230,705 shares of the company’s stock after buying an additional 7,488 shares during the period. TIAA CREF Investment Management LLC’s holdings in Tech Data Corporation were worth $21,663,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. bought a new stake in Tech Data Corporation during the fourth quarter worth approximately $474,000. State Board of Administration of Florida Retirement System raised its stake in Tech Data Corporation by 8.6% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 11,230 shares of the company’s stock worth $951,000 after buying an additional 890 shares during the last quarter. Comerica Bank raised its stake in Tech Data Corporation by 6.2% in the fourth quarter. Comerica Bank now owns 26,722 shares of the company’s stock worth $2,284,000 after buying an additional 1,549 shares during the last quarter. Cipher Capital LP bought a new stake in Tech Data Corporation during the fourth quarter worth approximately $323,000. Finally, State Street Corp raised its stake in Tech Data Corporation by 0.4% in the fourth quarter. State Street Corp now owns 1,222,451 shares of the company’s stock worth $103,514,000 after buying an additional 5,129 shares during the last quarter. 93.56% of the stock is currently owned by institutional investors.
Shares of Tech Data Corporation (NASDAQ:TECD) traded up 0.55% on Tuesday, reaching $98.97. The company’s stock had a trading volume of 92,618 shares. The company has a market cap of $3.77 billion, a price-to-earnings ratio of 18.47 and a beta of 0.78. The stock has a 50-day moving average of $96.92 and a 200 day moving average of $91.05. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $105.34.
Tech Data Corporation (NASDAQ:TECD) last announced its earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.53. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.31 billion. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. The business’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. On average, equities research analysts forecast that Tech Data Corporation will post $9.76 earnings per share for the current year.
A number of research firms recently commented on TECD. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Friday, June 2nd. Bank of America Corporation reissued a “buy” rating and issued a $110.00 price target on shares of Tech Data Corporation in a research report on Thursday, June 1st. BidaskClub lowered Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Finally, Needham & Company LLC raised Tech Data Corporation from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Thursday, March 9th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Tech Data Corporation has a consensus rating of “Buy” and an average price target of $105.57.
In other Tech Data Corporation news, Director Harry J. Harczak, Jr. sold 2,200 shares of the stock in a transaction on Wednesday, March 22nd. The stock was sold at an average price of $91.72, for a total transaction of $201,784.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Jeffrey Louis Taylor sold 1,000 shares of the stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $91.23, for a total value of $91,230.00. Following the sale, the senior vice president now directly owns 7,563 shares in the company, valued at approximately $689,972.49. The disclosure for this sale can be found here. Insiders have sold a total of 16,024 shares of company stock worth $1,579,554 in the last ninety days. Insiders own 1.60% 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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