USA Financial Portformulas Corp acquired a new stake in Tech Data Corporation (NASDAQ:TECD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 6,665 shares of the company’s stock, valued at approximately $592,000.

Several other hedge funds also recently modified their holdings of the stock. BlackRock Inc. raised its stake in shares of Tech Data Corporation by 24.1% in the 2nd quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock valued at $482,820,000 after acquiring an additional 927,770 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Tech Data Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 3,834,033 shares of the company’s stock valued at $387,237,000 after acquiring an additional 95,414 shares in the last quarter. State Street Corp raised its stake in shares of Tech Data Corporation by 3.7% in the 2nd quarter. State Street Corp now owns 1,269,882 shares of the company’s stock valued at $128,258,000 after acquiring an additional 44,944 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Tech Data Corporation by 37.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after acquiring an additional 214,058 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Tech Data Corporation by 13.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock valued at $78,816,000 after acquiring an additional 94,072 shares in the last quarter.

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TECD has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price objective on Tech Data Corporation from $100.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Northcoast Research reaffirmed a “neutral” rating on shares of Tech Data Corporation in a research report on Monday, August 28th. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Pivotal Research assumed coverage on Tech Data Corporation in a research report on Friday, October 6th. They issued a “buy” rating and a $114.00 price target on the stock. Finally, Stifel Nicolaus dropped their price target on Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $109.33.

Tech Data Corporation (TECD) opened at $90.40 on Thursday. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $3,449.83, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.47 and a beta of 0.77. Tech Data Corporation has a 1 year low of $74.07 and a 1 year high of $111.10.

Tech Data Corporation (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.32). The business 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 business’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.42 earnings per share. equities analysts anticipate that Tech Data Corporation will post 9.08 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.

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

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