Tech Data Corp (NASDAQ:TECD) Shares Bought by Citigroup Inc.
Citigroup Inc. boosted its position in Tech Data Corp (NASDAQ:TECD) by 830.0% during the first quarter, Holdings Channel reports. The institutional investor owned 42,704 shares of the company’s stock after acquiring an additional 38,112 shares during the quarter. Citigroup Inc.’s holdings in Tech Data were worth $4,373,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently bought and sold shares of TECD. BlackRock Inc. boosted its holdings in Tech Data by 1.2% in the 1st quarter. BlackRock Inc. now owns 4,525,177 shares of the company’s stock valued at $463,423,000 after purchasing an additional 52,733 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Tech Data by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock valued at $261,803,000 after purchasing an additional 34,598 shares during the period. Macquarie Group Ltd. boosted its holdings in Tech Data by 1.4% in the 4th quarter. Macquarie Group Ltd. now owns 922,562 shares of the company’s stock valued at $75,475,000 after purchasing an additional 12,823 shares during the period. Geode Capital Management LLC boosted its holdings in Tech Data by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 534,094 shares of the company’s stock valued at $43,693,000 after purchasing an additional 51,329 shares during the period. Finally, River Road Asset Management LLC boosted its holdings in Tech Data by 15.9% in the 4th quarter. River Road Asset Management LLC now owns 525,392 shares of the company’s stock valued at $42,982,000 after purchasing an additional 72,252 shares during the period. Institutional investors and hedge funds own 98.67% of the company’s stock.
TECD has been the subject of a number of research reports. BidaskClub downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a report on Tuesday, April 23rd. Zacks Investment Research raised shares of Tech Data from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Friday, May 24th. Stifel Nicolaus downgraded shares of Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Wednesday, April 17th. Finally, Citigroup reduced their price target on shares of Tech Data from $105.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Tech Data has an average rating of “Hold” and a consensus target price of $99.60.
NASDAQ:TECD opened at $97.48 on Tuesday. The stock has a market cap of $3.56 billion, a PE ratio of 8.57, a price-to-earnings-growth ratio of 2.66 and a beta of 1.07. Tech Data Corp has a 52 week low of $66.93 and a 52 week high of $111.08. The company has a quick ratio of 0.84, a current ratio of 1.26 and a debt-to-equity ratio of 0.45.
Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, May 30th. The company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.45 billion. Tech Data had a net margin of 0.98% and a return on equity of 15.28%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. On average, equities research analysts expect that Tech Data Corp will post 11.98 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Daily Political and is the sole property of of Daily Political. If you are reading this news story on another site, it was copied illegally and reposted in violation of United States and international trademark and copyright laws. The correct version of this news story can be viewed at https://www.dailypolitical.com/2019/06/11/tech-data-corp-nasdaqtecd-shares-bought-by-citigroup-inc.html.
Tech Data Company Profile
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Read More: How accurate is the Rule of 72?
Want to see what other hedge funds are holding TECD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tech Data Corp (NASDAQ:TECD).
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.