Alpha Windward LLC raised its position in Tech Data Corp (NASDAQ:TECD) by 21.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,992 shares of the company’s stock after purchasing an additional 1,040 shares during the period. Alpha Windward LLC’s holdings in Tech Data were worth $587,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Tech Data 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 in the last quarter. Vanguard Group Inc. lifted its holdings in Tech Data 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 in the last quarter. State Street Corp lifted its holdings in Tech Data 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 purchasing an additional 44,944 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Tech Data in the 3rd quarter valued at about $76,672,000. Finally, Northern Trust Corp lifted its holdings in Tech Data by 1.8% in the 2nd quarter. Northern Trust Corp now owns 694,030 shares of the company’s stock valued at $70,097,000 after purchasing an additional 12,101 shares in the last quarter. Institutional investors own 98.12% of the company’s stock.
Several brokerages have recently weighed in on TECD. ValuEngine upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Pivotal Research began coverage on shares of Tech Data in a report on Friday, October 6th. They set a “buy” rating and a $114.00 price objective on the stock. Needham & Company LLC increased their price objective on shares of Tech Data from $100.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Finally, Citigroup reiterated a “hold” rating and set a $110.00 price objective on shares of Tech Data in a report on Tuesday, November 28th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Tech Data currently has an average rating of “Buy” and a consensus price target of $112.33.
In related news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.
Tech Data Corp (TECD) opened at $105.62 on Thursday. The firm has a market cap of $3,985.87, a PE ratio of 20.12, a PEG ratio of 0.52 and a beta of 0.78. Tech Data Corp has a 1-year low of $81.42 and a 1-year high of $111.10. The company has a current ratio of 1.35, a quick ratio of 0.89 and a debt-to-equity ratio of 0.66.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.90 by $0.10. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The company’s revenue was up 40.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.44 EPS. research analysts anticipate that Tech Data Corp will post 9.14 earnings per share for the current year.
About Tech Data
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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