Robeco Institutional Asset Management B.V. lifted its stake in Tech Data Corp (NASDAQ:TECD) by 13.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 135,733 shares of the company’s stock after purchasing an additional 15,563 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.37% of Tech Data worth $14,198,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its position in Tech Data by 84.0% during the 1st quarter. Advisory Services Network LLC now owns 241 shares of the company’s stock worth $25,000 after acquiring an additional 110 shares during the period. Quadrant Capital Group LLC boosted its position in Tech Data by 602.6% during the 1st quarter. Quadrant Capital Group LLC now owns 541 shares of the company’s stock worth $53,000 after acquiring an additional 464 shares during the period. Resources Investment Advisors Inc. boosted its position in Tech Data by 31.0% during the 1st quarter. Resources Investment Advisors Inc. now owns 550 shares of the company’s stock worth $56,000 after acquiring an additional 130 shares during the period. AdvisorNet Financial Inc boosted its position in Tech Data by 32.8% during the 2nd quarter. AdvisorNet Financial Inc now owns 1,182 shares of the company’s stock worth $124,000 after acquiring an additional 292 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in Tech Data by 8.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 1,361 shares of the company’s stock worth $139,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 99.61% of the company’s stock.
Shares of TECD traded down $3.63 during midday trading on Monday, reaching $89.54. 5,162 shares of the stock were exchanged, compared to its average volume of 236,671. Tech Data Corp has a 12-month low of $66.93 and a 12-month high of $111.08. The business has a 50 day simple moving average of $100.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.84 and a current ratio of 1.26. The firm has a market cap of $3.29 billion, a P/E ratio of 7.87, a price-to-earnings-growth ratio of 2.60 and a beta of 1.14.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, May 30th. The company reported $2.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.98 by $0.06. Tech Data had a return on equity of 15.28% and a net margin of 0.98%. The company had revenue of $8.41 billion during the quarter, compared to the consensus estimate of $8.45 billion. During the same period last year, the business earned $1.84 EPS. The business’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Tech Data Corp will post 11.98 earnings per share for the current year.
In related news, Director Thomas I. Morgan sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $100.51, for a total value of $201,020.00. Following the transaction, the director now directly owns 17,491 shares of the company’s stock, valued at approximately $1,758,020.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John A. Tonnison sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $102.30, for a total value of $409,200.00. Following the completion of the transaction, the vice president now directly owns 29,657 shares in the company, valued at $3,033,911.10. The disclosure for this sale can be found here. Insiders sold a total of 8,200 shares of company stock worth $819,858 over the last three months. 1.10% of the stock is owned by company insiders.
TECD has been the subject of a number of research reports. ValuEngine lowered Tech Data from a “hold” rating to a “sell” rating in a research report on Thursday. Stifel Nicolaus lowered Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Wednesday, April 17th. Citigroup decreased their price objective on Tech Data from $105.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, May 31st. Zacks Investment Research upgraded Tech Data from a “hold” rating to a “buy” rating and set a $103.00 price objective for the company in a research report on Friday, May 24th. Finally, BidaskClub upgraded Tech Data from a “sell” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $99.60.
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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