Royal Bank of Canada Acquires 3,893 Shares of Tech Data Corporation (NASDAQ:TECD)

Royal Bank of Canada lifted its holdings in shares of Tech Data Corporation (NASDAQ:TECD) by 59.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,410 shares of the company’s stock after buying an additional 3,893 shares during the period. Royal Bank of Canada’s holdings in Tech Data Corporation were worth $1,052,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its holdings 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 purchasing an additional 927,770 shares during the period. Vanguard Group Inc. raised its holdings 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 purchasing an additional 95,414 shares during the period. JPMorgan Chase & Co. raised its holdings 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 purchasing an additional 214,058 shares during the period. Bank of New York Mellon Corp raised its holdings 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 purchasing an additional 94,072 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in shares of Tech Data Corporation by 1.1% in the 2nd quarter. Acadian Asset Management LLC now owns 735,531 shares of the company’s stock valued at $74,287,000 after purchasing an additional 8,275 shares during the period.

A number of brokerages have recently issued reports on TECD. Stifel Nicolaus dropped their target price on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, September 1st. Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 target price on shares of Tech Data Corporation in a report on Friday, September 1st. Northcoast Research reaffirmed a “neutral” rating on shares of Tech Data Corporation in a report on Monday, August 28th. Zacks Investment Research raised shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Finally, Loop Capital began coverage on shares of Tech Data Corporation in a report on Thursday, August 24th. They issued a “buy” rating and a $130.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Tech Data Corporation presently has a consensus rating of “Buy” and a consensus price target of $109.33.

Tech Data Corporation (TECD) opened at $90.46 on Tuesday. The firm has a market cap of $3,458.60, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.47 and a beta of 0.77. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. Tech Data Corporation has a fifty-two week low of $78.44 and a fifty-two week high of $111.10.

Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The company had revenue of $8.88 billion during the quarter, compared to the consensus estimate of $8.74 billion. During the same period in the prior year, the company earned $1.42 earnings per share. The firm’s revenue was up 39.8% compared to the same quarter last year. equities research analysts anticipate that Tech Data Corporation will post 9.08 earnings per share for the current year.

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Tech Data Corporation 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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