BidaskClub upgraded shares of Tech Data (NASDAQ:TECD) from a hold rating to a buy rating in a research note issued to investors on Tuesday, January 9th.
TECD has been the topic of a number of other research reports. Zacks Investment Research upgraded Tech Data from a sell rating to a hold rating in a research report on Thursday, October 26th. Needham & Company LLC upped their target price on Tech Data from $100.00 to $102.00 and gave the company a buy rating in a research report on Thursday, October 12th. Pivotal Research began coverage on Tech Data in a research report on Friday, October 6th. They issued a buy rating and a $114.00 target price on the stock. ValuEngine upgraded Tech Data from a hold rating to a buy rating in a research report on Monday, October 2nd. Finally, Citigroup restated a hold rating and issued a $110.00 price objective on shares of Tech Data in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $112.33.
Shares of Tech Data (NASDAQ:TECD) traded down $2.43 during mid-day trading on Tuesday, hitting $98.70. The stock had a trading volume of 222,699 shares, compared to its average volume of 228,087. Tech Data has a 1-year low of $81.42 and a 1-year high of $111.10. The stock has a market capitalization of $3,858.44, a price-to-earnings ratio of 18.80, a price-to-earnings-growth ratio of 0.44 and a beta of 0.69. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, topping the Zacks’ 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 return on equity of 11.90% and a net margin of 0.59%. The company’s revenue was up 40.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.44 earnings per share. equities analysts expect that Tech Data will post 9.14 earnings per share for the current year.
In other news, COO Richard T. Hume sold 3,100 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total transaction of $303,986.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of TECD. Marshall Wace North America L.P. acquired a new position in Tech Data in the 2nd quarter valued at $664,000. State Board of Administration of Florida Retirement System raised its stake in Tech Data by 44.0% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 16,569 shares of the company’s stock valued at $1,673,000 after purchasing an additional 5,059 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Tech Data by 15.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock valued at $150,000 after purchasing an additional 195 shares during the last quarter. Principal Financial Group Inc. raised its stake in Tech Data by 4.4% in the 2nd quarter. Principal Financial Group Inc. now owns 162,136 shares of the company’s stock valued at $16,375,000 after purchasing an additional 6,852 shares during the last quarter. Finally, Swiss National Bank raised its stake in Tech Data by 8.8% in the 2nd quarter. Swiss National Bank now owns 63,300 shares of the company’s stock valued at $6,393,000 after purchasing an additional 5,100 shares during the last quarter. 98.18% of the stock is owned by hedge funds and other institutional investors.
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Tech Data 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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