Macquarie Group Ltd. reduced its stake in shares of Tech Data Corporation (NASDAQ:TECD) by 1.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 573,731 shares of the company’s stock after selling 5,869 shares during the period. Macquarie Group Ltd. owned 1.51% of Tech Data Corporation worth $53,873,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the stock. Engine Capital Management LLC boosted its stake in Tech Data Corporation by 1,083.4% in the first quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock valued at $188,000 after buying an additional 1,831 shares during the last quarter. Paloma Partners Management Co raised its position in Tech Data Corporation by 106.3% in the first quarter. Paloma Partners Management Co now owns 29,972 shares of the company’s stock valued at $2,814,000 after buying an additional 15,446 shares during the period. Gotham Asset Management LLC acquired a new position in Tech Data Corporation during the first quarter valued at about $4,860,000. Nomura Holdings Inc. raised its position in Tech Data Corporation by 14.6% in the first quarter. Nomura Holdings Inc. now owns 3,095 shares of the company’s stock valued at $290,000 after buying an additional 395 shares during the period. Finally, Bank of America Corp DE raised its position in Tech Data Corporation by 49.0% in the first quarter. Bank of America Corp DE now owns 351,883 shares of the company’s stock valued at $33,042,000 after buying an additional 115,704 shares during the period. Institutional investors and hedge funds own 93.17% of the company’s stock.
Shares of Tech Data Corporation (NASDAQ TECD) traded up 1.56% during midday trading on Wednesday, reaching $105.96. 126,042 shares of the company’s stock traded hands. The company has a 50 day moving average of $98.29 and a 200 day moving average of $91.82. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $106.65. The firm has a market cap of $4.04 billion, a PE ratio of 19.77 and a beta of 0.79.
Tech Data Corporation (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, June 1st. The company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.34 by $0.53. The firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.31 billion. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The business’s revenue was up 28.5% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. On average, equities analysts predict that Tech Data Corporation will post $9.76 EPS for the current fiscal year.
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Several research analysts recently issued reports on the stock. Citigroup Inc. raised shares of Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price target for the company in a research report on Friday, June 2nd. Bank of America Corporation reissued a “buy” rating and issued a $110.00 price target on shares of Tech Data Corporation in a report on Thursday, June 1st. BidaskClub lowered shares of Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Finally, Zacks Investment Research raised shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Tech Data Corporation currently has a consensus rating of “Buy” and an average price target of $105.57.
In other Tech Data Corporation news, insider Joseph H. Quaglia sold 4,800 shares of Tech Data Corporation stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $103.00, for a total transaction of $494,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Robert M. Dutkowsky sold 20,000 shares of Tech Data Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total transaction of $2,001,600.00. The disclosure for this sale can be found here. Insiders have sold 32,240 shares of company stock worth $3,239,875 over the last three months. Insiders own 1.60% of the company’s stock.
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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