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.

In other news, VP David R. Vetter sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $110.18, for a total transaction of $220,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry J. Harczak, Jr. sold 2,200 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $95.29, for a total transaction of $209,638.00. Following the transaction, the director now directly owns 12,837 shares of the company’s stock, valued at $1,223,237.73. The disclosure for this sale can be found here. Insiders have sold a total of 51,208 shares of company stock valued at $5,453,448 over the last ninety days. 1.10% of the stock is owned by insiders.

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.

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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.

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

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