California Public Employees Retirement System Buys 23,584 Shares of Tech Data Corp (NASDAQ:TECD)

California Public Employees Retirement System lifted its stake in Tech Data Corp (NASDAQ:TECD) by 42.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 79,493 shares of the company’s stock after purchasing an additional 23,584 shares during the period. California Public Employees Retirement System’s holdings in Tech Data were worth $8,286,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Personal Wealth Partners bought a new position in shares of Tech Data in the 2nd quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Tech Data in the 2nd quarter worth $33,000. Advisory Services Network LLC boosted its position in shares of Tech Data by 49.0% in the 2nd quarter. Advisory Services Network LLC now owns 359 shares of the company’s stock worth $38,000 after purchasing an additional 118 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Tech Data in the 2nd quarter worth $58,000. Finally, Quantamental Technologies LLC bought a new position in shares of Tech Data in the 2nd quarter worth $77,000.

In related news, CFO Charles V. Dannewitz sold 1,050 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $103.60, for a total transaction of $108,780.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Michael Rabinovitch sold 349 shares of Tech Data stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $104.85, for a total value of $36,592.65. The disclosure for this sale can be found here. Insiders have sold a total of 12,899 shares of company stock worth $1,352,943 in the last ninety days. 1.10% of the stock is currently owned by company insiders.

Several research analysts have recently issued reports on TECD shares. Loop Capital raised their price target on Tech Data to $150.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a research note on Friday, August 23rd. Citigroup set a $100.00 price objective on Tech Data and gave the stock a “hold” rating in a research note on Friday, August 30th. BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Finally, ValuEngine raised Tech Data from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. Tech Data presently has an average rating of “Hold” and a consensus target price of $112.50.

Shares of Tech Data stock opened at $130.89 on Thursday. The company has a market capitalization of $4.43 billion, a PE ratio of 11.50, a PEG ratio of 2.57 and a beta of 1.15. Tech Data Corp has a 12 month low of $70.41 and a 12 month high of $131.70. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. The stock’s fifty day simple moving average is $115.84 and its 200 day simple moving average is $102.54.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, August 29th. The company reported $2.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.36. The business had revenue of $9.09 billion for the quarter, compared to the consensus estimate of $8.71 billion. Tech Data had a return on equity of 15.96% and a net margin of 0.98%. The firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.01 EPS. Analysts predict that Tech Data Corp will post 12.46 EPS for the current fiscal year.

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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