Russell Investments Group Ltd. trimmed its stake in Tech Data Corporation (NASDAQ:TECD) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 439,028 shares of the company’s stock after selling 62,653 shares during the period. Russell Investments Group Ltd. owned approximately 1.15% of Tech Data worth $39,008,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TECD. Palisade Capital Management LLC NJ purchased a new position in shares of Tech Data in the 3rd quarter valued at $888,000. Prudential Financial Inc. grew its stake in Tech Data by 30.2% during the 2nd quarter. Prudential Financial Inc. now owns 381,747 shares of the company’s stock worth $38,557,000 after buying an additional 88,598 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Tech Data by 37.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after buying an additional 214,058 shares during the last quarter. Geneva Advisors LLC purchased a new position in Tech Data during the 2nd quarter worth $606,000. Finally, American Century Companies Inc. grew its stake in Tech Data by 139.1% during the 3rd quarter. American Century Companies Inc. now owns 210,241 shares of the company’s stock worth $18,680,000 after buying an additional 122,298 shares during the last quarter. Institutional investors own 98.38% of the company’s stock.
A number of analysts have commented on the company. Citigroup reaffirmed a “hold” rating and set a $110.00 price target on shares of Tech Data in a research report on Tuesday, November 28th. ValuEngine raised Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. BidaskClub cut Tech Data from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Pivotal Research set a $114.00 price target on Tech Data and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $112.33.
Tech Data Corporation (TECD) traded down $0.14 on Wednesday, reaching $95.34. The company had a trading volume of 350,121 shares, compared to its average volume of 447,962. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66. Tech Data Corporation has a 12-month low of $81.42 and a 12-month high of $111.10. The firm has a market capitalization of $3,666.15, a PE ratio of 11.92, a PEG ratio of 0.48 and a beta of 0.78.
Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.10 billion. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The firm’s revenue was up 40.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 earnings per share. equities analysts predict that Tech Data Corporation will post 9.14 earnings per share for the current year.
In other news, COO Richard T. Hume sold 3,100 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $98.06, for a total value of $303,986.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.
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About Tech Data
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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