Invesco Ltd. reduced its stake in shares of Tech Data Corp (NASDAQ:TECD) by 8.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 145,615 shares of the company’s stock after selling 13,030 shares during the quarter. Invesco Ltd. owned 0.41% of Tech Data worth $19,054,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Citizens Financial Group Inc RI grew its position in Tech Data by 196.1% during the first quarter. Citizens Financial Group Inc RI now owns 228 shares of the company’s stock worth $30,000 after buying an additional 151 shares during the period. Pinz Capital Management LP acquired a new stake in shares of Tech Data in the first quarter valued at approximately $33,000. Cutler Group LP acquired a new stake in shares of Tech Data in the first quarter valued at approximately $65,000. US Bancorp DE grew its position in shares of Tech Data by 22.7% in the first quarter. US Bancorp DE now owns 529 shares of the company’s stock valued at $69,000 after purchasing an additional 98 shares during the last quarter. Finally, Mint Tower Capital Management B.V. acquired a new stake in shares of Tech Data in the first quarter valued at approximately $79,000. Institutional investors own 90.97% of the company’s stock.
TECD has been the topic of several research reports. BidaskClub upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Wednesday, June 17th. Northcoast Research lowered shares of Tech Data from a “buy” rating to a “neutral” rating in a research report on Friday, June 26th. Finally, ValuEngine lowered shares of Tech Data from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $122.50.
Tech Data (NASDAQ:TECD) last announced its earnings results on Thursday, May 28th. The company reported $2.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.84. Tech Data had a net margin of 1.00% and a return on equity of 15.32%. The firm had revenue of $8.18 billion for the quarter, compared to analyst estimates of $7.70 billion. During the same quarter last year, the business earned $2.04 earnings per share. Tech Data’s revenue was down 2.8% compared to the same quarter last year. As a group, equities analysts predict that Tech Data Corp will post 11.39 EPS for the current year.
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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