Public Employees Retirement System of Ohio lifted its stake in shares of Tech Data Corp (NASDAQ:TECD) by 0.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 31,875 shares of the company’s stock after purchasing an additional 216 shares during the quarter. Public Employees Retirement System of Ohio owned 0.09% of Tech Data worth $3,323,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nuveen Asset Management LLC bought a new position in Tech Data in the 2nd quarter valued at about $52,578,000. JPMorgan Chase & Co. increased its stake in shares of Tech Data by 31.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,386,528 shares of the company’s stock valued at $142,161,000 after purchasing an additional 334,938 shares during the last quarter. Invesco Ltd. increased its stake in shares of Tech Data by 87.2% in the 2nd quarter. Invesco Ltd. now owns 622,901 shares of the company’s stock valued at $65,155,000 after purchasing an additional 290,160 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Tech Data by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,853,331 shares of the company’s stock worth $403,058,000 after buying an additional 99,380 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its holdings in shares of Tech Data by 49.3% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 292,547 shares of the company’s stock worth $30,600,000 after buying an additional 96,647 shares in the last quarter.
Several analysts recently weighed in on the company. Loop Capital raised their price objective on Tech Data to $150.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a research note on Friday, August 23rd. ValuEngine upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, November 29th. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Citigroup set a $100.00 price objective on shares of Tech Data and gave the stock a “hold” rating in a research report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $113.00.
Tech Data (NASDAQ:TECD) last issued its earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.03. Tech Data had a return on equity of 15.59% and a net margin of 0.92%. The business had revenue of $9.12 billion during the quarter, compared to analysts’ expectations of $9.37 billion. During the same quarter in the prior year, the firm earned $3.02 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts anticipate that Tech Data Corp will post 12.53 earnings per share for the current fiscal year.
In other news, CFO Charles V. Dannewitz sold 1,050 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Beth E. Simonetti sold 1,500 shares of Tech Data stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $104.78, for a total value of $157,170.00. The disclosure for this sale can be found here. Insiders sold 12,899 shares of company stock valued at $1,352,943 in the last ninety days. 1.10% of the stock is currently owned by insiders.
Tech Data 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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