Municipal Employees Retirement System of Michigan decreased its position in Tech Data Corporation (NASDAQ:TECD) by 17.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,390 shares of the company’s stock after selling 2,790 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Tech Data Corporation were worth $1,352,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TECD. Renaissance Technologies LLC increased its position in shares of Tech Data Corporation by 15.6% in the fourth quarter. Renaissance Technologies LLC now owns 31,842 shares of the company’s stock worth $2,696,000 after buying an additional 4,300 shares during the last quarter. Teachers Advisors LLC increased its position in shares of Tech Data Corporation by 39.2% in the fourth quarter. Teachers Advisors LLC now owns 119,223 shares of the company’s stock worth $10,096,000 after buying an additional 33,567 shares during the last quarter. Creative Planning increased its position in shares of Tech Data Corporation by 6.3% in the first quarter. Creative Planning now owns 2,017 shares of the company’s stock worth $189,000 after buying an additional 120 shares during the last quarter. Bank of Montreal Can increased its position in shares of Tech Data Corporation by 1.6% in the first quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock worth $286,000 after buying an additional 48 shares during the last quarter. Finally, Capstone Asset Management Co. increased its position in shares of Tech Data Corporation by 7.0% in the first quarter. Capstone Asset Management Co. now owns 5,653 shares of the company’s stock worth $531,000 after buying an additional 370 shares during the last quarter. 94.16% of the stock is currently owned by institutional investors and hedge funds.

Tech Data Corporation (TECD) opened at 105.85 on Tuesday. The firm has a market cap of $4.04 billion, a P/E ratio of 19.75 and a beta of 0.79. The firm has a 50-day moving average of $102.78 and a 200 day moving average of $94.65. Tech Data Corporation has a 1-year low of $67.67 and a 1-year high of $107.18.

Tech Data Corporation (NASDAQ:TECD) last released its earnings results on Thursday, June 1st. The company reported $1.87 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.53. The company had revenue of $7.66 billion during 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% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, analysts predict that Tech Data Corporation will post $9.76 EPS for the current year.

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A number of brokerages recently commented on TECD. Zacks Investment Research upgraded shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Monday. BidaskClub downgraded shares of Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Citigroup Inc. upgraded shares of Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price for the company in a research note on Friday, June 2nd. Finally, Bank of America Corporation reiterated a “buy” rating and set a $110.00 target price on shares of Tech Data Corporation in a research note on Thursday, June 1st. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $105.57.

In other news, Director Harry J. Harczak, Jr. sold 1,440 shares of the business’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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the completion of the sale, the chief financial officer now directly owns 26,479 shares of the company’s stock, valued at approximately $2,814,982.49. The disclosure for this sale can be found here. Insiders sold a total of 34,888 shares of company stock valued at $3,519,704 in the last three months. Insiders own 1.60% of the company’s stock.

Tech Data Corporation Company Profile

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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Institutional Ownership by Quarter for Tech Data Corporation (NASDAQ:TECD)

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