State Board of Administration of Florida Retirement System grew its holdings in Tech Data Corporation (NASDAQ:TECD) by 44.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,569 shares of the company’s stock after acquiring an additional 5,059 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Tech Data Corporation were worth $1,673,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in the company. Glen Harbor Capital Management LLC lifted its position in shares of 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 acquiring an additional 22 shares in the last quarter. Elkfork Partners LLC lifted its position in shares of 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 acquiring an additional 28 shares in the last quarter. Meadow Creek Investment Management LLC lifted its position in shares of 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 acquiring an additional 34 shares in the last quarter. Balasa Dinverno & Foltz LLC lifted its position in shares of Tech Data Corporation by 0.6% in the second quarter. Balasa Dinverno & Foltz LLC now owns 5,365 shares of the company’s stock valued at $542,000 after acquiring an additional 34 shares in the last quarter. Finally, Capital One National Association lifted its position in shares of Tech Data Corporation by 0.3% in the second quarter. Capital One National Association now owns 13,690 shares of the company’s stock valued at $1,383,000 after acquiring an additional 47 shares in the last quarter.

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Several brokerages have recently commented on TECD. Citigroup Inc. restated a “hold” rating and issued a $100.00 price objective on shares of Tech Data Corporation in a research report on Friday, September 1st. Zacks Investment Research upgraded Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a research report on Thursday, May 25th. Loop Capital restated a “buy” rating and issued a $120.00 price objective (down from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. BidaskClub downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Finally, Bank of America Corporation restated a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a research report on Thursday, June 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $107.25.

Shares of Tech Data Corporation (NASDAQ:TECD) opened at 84.93 on Friday. Tech Data Corporation has a 52-week low of $68.41 and a 52-week high of $111.10. The company has a 50 day moving average price of $99.21 and a 200-day moving average price of $97.32. The stock has a market capitalization of $3.24 billion, a P/E ratio of 16.12 and a beta of 0.79.

Tech Data Corporation (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The company had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The company’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 earnings per share. On average, analysts predict that Tech Data Corporation will post $8.86 earnings per share for the current fiscal year.

In related news, Director Harry J. Harczak, Jr. sold 1,440 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Alain Amsellem sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total transaction of $104,630.00. Following the completion of the transaction, the chief financial officer now directly owns 26,379 shares in the company, valued at $2,760,034.77. The disclosure for this sale can be found here. Insiders sold a total of 24,088 shares of company stock worth $2,423,744 over the last ninety days. 1.60% of the stock is currently owned by corporate insiders.

Tech Data Corporation 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.

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

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