Quantamental Technologies LLC acquired a new stake in shares of Tech Data Corp (NASDAQ:TECD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,880 shares of the company’s stock, valued at approximately $317,000.
A number of other hedge funds also recently bought and sold shares of TECD. River Road Asset Management LLC bought a new stake in shares of Tech Data in the 3rd quarter worth $32,431,000. Assenagon Asset Management S.A. lifted its position in Tech Data by 11,850.6% during the third quarter. Assenagon Asset Management S.A. now owns 375,250 shares of the company’s stock valued at $26,857,000 after purchasing an additional 372,110 shares in the last quarter. Prudential Financial Inc. lifted its position in Tech Data by 89.4% during the third quarter. Prudential Financial Inc. now owns 655,099 shares of the company’s stock valued at $46,885,000 after purchasing an additional 309,142 shares in the last quarter. Macquarie Group Ltd. lifted its position in Tech Data by 23.2% during the 3rd quarter. Macquarie Group Ltd. now owns 909,739 shares of the company’s stock worth $65,110,000 after buying an additional 171,231 shares in the last quarter. Finally, BlackRock Inc. lifted its position in Tech Data by 3.8% during the 3rd quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after buying an additional 159,706 shares in the last quarter. 97.09% of the stock is owned by institutional investors.
In related news, VP Beth E. Simonetti sold 592 shares of the firm’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $91.98, for a total value of $54,452.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles E. Adair sold 2,715 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.72, for a total value of $246,304.80. The disclosure for this sale can be found here. Insiders sold 18,307 shares of company stock worth $1,646,157 in the last 90 days. 1.10% of the stock is owned by company insiders.
TECD has been the subject of several recent research reports. BidaskClub raised Tech Data from a “buy” rating to a “strong-buy” rating in a report on Tuesday, January 15th. Zacks Investment Research reissued a “hold” rating and set a $82.00 price objective on shares of Tech Data in a report on Friday, November 16th. Needham & Company LLC upped their price target on Tech Data to $110.00 and gave the company a “buy” rating in a research note on Friday, November 30th. ValuEngine raised Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. Finally, TheStreet raised Tech Data from a “c+” rating to a “b-” rating in a research note on Thursday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Tech Data currently has a consensus rating of “Buy” and an average price target of $103.57.
TECD opened at $102.09 on Thursday. Tech Data Corp has a 1-year low of $66.93 and a 1-year high of $108.62. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $3.68 billion, a P/E ratio of 11.21, a price-to-earnings-growth ratio of 0.98 and a beta of 0.96.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Thursday, November 29th. The company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.85. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.92 billion. Tech Data had a return on equity of 13.92% and a net margin of 0.59%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.00 EPS. As a group, equities analysts expect that Tech Data Corp will post 10.94 earnings per share for the current year.
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Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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