Tech Data Corporation (NASDAQ:TECD)‘s stock had its “buy” rating restated by research analysts at Needham & Company LLC in a report issued on Monday. They presently have a $100.00 target price on the stock, down from their previous target price of $107.00. Needham & Company LLC’s target price suggests a potential upside of 13.96% from the company’s previous close.

TECD has been the subject of a number of other reports. Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 price target on shares of Tech Data Corporation in a research note on Friday, September 1st. Zacks Investment Research raised Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research note on Thursday, May 25th. Loop Capital reaffirmed a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Tech Data Corporation in a research note on Friday, September 1st. BidaskClub cut Tech Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 price target on shares of Tech Data Corporation in a research note on Thursday, June 1st. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Tech Data Corporation presently has an average rating of “Buy” and an average target price of $106.38.

Tech Data Corporation (NASDAQ TECD) opened at 87.75 on Monday. The firm has a 50 day moving average of $97.87 and a 200 day moving average of $97.33. The firm has a market capitalization of $3.35 billion, a PE ratio of 16.65 and a beta of 0.79. Tech Data Corporation has a one year low of $68.41 and a one year high of $111.10.

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

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In related news, CEO Robert M. Dutkowsky sold 20,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the transaction, the chief financial officer now owns 26,479 shares of the company’s stock, valued at $2,814,982.49. The disclosure for this sale can be found here. Insiders sold a total of 22,648 shares of company stock valued at $2,281,429 over the last quarter. 1.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of TECD. Bank of Montreal Can grew its position in shares of Tech Data Corporation by 1.6% in the 1st quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock valued at $286,000 after purchasing an additional 48 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Tech Data Corporation by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 32,433 shares of the company’s stock valued at $3,043,000 after purchasing an additional 435 shares during the period. State Board of Administration of Florida Retirement System grew its position in shares of Tech Data Corporation by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,510 shares of the company’s stock valued at $1,081,000 after purchasing an additional 280 shares during the period. First Trust Advisors LP grew its position in shares of Tech Data Corporation by 9.1% in the 1st quarter. First Trust Advisors LP now owns 39,582 shares of the company’s stock valued at $3,717,000 after purchasing an additional 3,291 shares during the period. Finally, Elkfork Partners LLC grew its position in shares of Tech Data Corporation by 1.8% in the 1st quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock valued at $152,000 after purchasing an additional 28 shares during the period.

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.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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