Foundry Partners LLC increased its stake in Tech Data Corporation (NASDAQ:TECD) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,871 shares of the company’s stock after buying an additional 2,401 shares during the period. Foundry Partners LLC’s holdings in Tech Data Corporation were worth $13,218,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Glen Harbor Capital Management LLC increased 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 during the period. Elkfork Partners LLC increased its stake in Tech Data Corporation by 1.8% in the first quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock valued at $152,000 after buying an additional 28 shares during the period. Invictus RG bought a new stake in Tech Data Corporation during the first quarter valued at approximately $156,000. Meadow Creek Investment Management LLC increased its stake 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 valued at $185,000 after buying an additional 34 shares during the period. Finally, Engine Capital Management LLC increased its stake 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 valued at $188,000 after buying an additional 1,831 shares during the period. 94.16% of the stock is currently owned by institutional investors and hedge funds.

Tech Data Corporation (TECD) opened at 101.34 on Friday. Tech Data Corporation has a one year low of $67.67 and a one year high of $107.50. The company has a market capitalization of $3.86 billion, a P/E ratio of 18.91 and a beta of 0.79. The stock’s 50 day moving average price is $103.85 and its 200-day moving average price is $95.41.

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

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Several equities research analysts have commented on the company. Zacks Investment Research raised Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 target price on the stock in a report on Thursday, May 25th. BidaskClub downgraded Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price on the stock in a report on Friday, June 2nd. Finally, Bank of America Corporation reissued a “buy” rating and issued a $110.00 target price on shares of Tech Data Corporation in a report on Thursday, June 1st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $105.57.

In related news, Director Harry J. Harczak, Jr. sold 1,440 shares of the business’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $98.83, for a total transaction of $142,315.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert M. Dutkowsky sold 20,000 shares of the business’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total value of $2,001,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,888 shares of company stock worth $3,519,704. 1.60% of the stock is owned by company insiders.

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

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