Mesirow Financial Investment Management Equity Management cut its stake in Tech Data Corporation (NASDAQ:TECD) by 14.9% during the second quarter, Holdings Channel reports. The institutional investor owned 183,332 shares of the company’s stock after selling 32,060 shares during the period. Mesirow Financial Investment Management Equity Management’s holdings in Tech Data Corporation were worth $18,515,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in Tech Data Corporation by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,276 shares of the company’s stock valued at $120,000 after buying an additional 22 shares in the last quarter. Elkfork Partners LLC raised its position in Tech Data Corporation by 1.8% in the first quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock worth $152,000 after buying an additional 28 shares during the period. Invictus RG acquired a new position in Tech Data Corporation during the first quarter worth $156,000. Meadow Creek Investment Management LLC raised its position in Tech Data Corporation by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,972 shares of the company’s stock worth $185,000 after buying an additional 34 shares during the period. Finally, Engine Capital Management LLC raised its position in Tech Data Corporation by 1,083.4% in the first quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock worth $188,000 after buying an additional 1,831 shares during the period. Hedge funds and other institutional investors own 94.16% of the company’s stock.

Shares of Tech Data Corporation (NASDAQ:TECD) opened at 105.44 on Wednesday. The company has a market cap of $4.02 billion, a PE ratio of 19.68 and a beta of 0.79. Tech Data Corporation has a 12 month low of $67.67 and a 12 month high of $107.50. The firm’s 50-day moving average price is $103.19 and its 200 day moving average price is $94.84.

Tech Data Corporation (NASDAQ:TECD) last issued its earnings results on Thursday, June 1st. The company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.53. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was up 28.5% compared to the same quarter last year. Equities research analysts anticipate that Tech Data Corporation will post $9.76 earnings per share for the current fiscal year.

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TECD has been the subject of a number of recent analyst reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a research note on Thursday, June 1st. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. 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 note on Friday, June 2nd. Finally, BidaskClub lowered Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $105.57.

In other Tech Data Corporation news, insider Joseph H. Quaglia sold 4,800 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $103.00, for a total value of $494,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David R. Vetter sold 6,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $100.26, for a total transaction of $601,560.00. The disclosure for this sale can be found here. Insiders sold 34,888 shares of company stock valued at $3,519,704 in the last 90 days. 1.60% of the stock is currently owned by insiders.

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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