Quantitative Investment Management LLC grew its stake in shares of Tech Data Corporation (NASDAQ:TECD) by 585.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,200 shares of the company’s stock after acquiring an additional 59,100 shares during the period. Quantitative Investment Management LLC owned 0.18% of Tech Data Corporation worth $6,989,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TECD. BlackRock Inc. raised its position in shares of Tech Data Corporation by 24.1% in the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after buying an additional 927,770 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Tech Data Corporation by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,738,619 shares of the company’s stock worth $351,057,000 after buying an additional 51,091 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Tech Data Corporation by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,039,981 shares of the company’s stock worth $285,451,000 after buying an additional 69,458 shares in the last quarter. JPMorgan Chase & Co. raised its position in shares of Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after buying an additional 214,058 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Tech Data Corporation by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock worth $78,816,000 after buying an additional 94,072 shares in the last quarter.

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A number of brokerages recently issued reports on TECD. Citigroup Inc. reiterated a “hold” rating and issued a $100.00 price objective on shares of Tech Data Corporation in a research report on Friday, September 1st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective (down previously from $107.00) on shares of Tech Data Corporation in a research report on Monday, September 18th. Loop Capital reiterated a “buy” rating and issued a $120.00 price objective (down previously from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Zacks Investment Research downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Finally, BidaskClub downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $107.33.

In related news, CFO Alain Amsellem sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total value of $104,630.00. Following the completion of the transaction, the chief financial officer now owns 26,379 shares of the company’s stock, valued at approximately $2,760,034.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Shares of Tech Data Corporation (NASDAQ:TECD) opened at 86.90 on Friday. Tech Data Corporation has a 12 month low of $68.41 and a 12 month high of $111.10. The company has a 50 day moving average price of $97.87 and a 200-day moving average price of $97.33. The stock has a market cap of $3.32 billion, a P/E ratio of 16.49 and a beta of 0.79.

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

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.

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

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