Tech Data Corp (NASDAQ:TECD) COO Richard T. Hume sold 3,100 shares of Tech Data stock in a transaction dated 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Tech Data Corp (TECD) traded up $0.54 during trading hours on Monday, hitting $96.66. The company’s stock had a trading volume of 216,600 shares, compared to its average volume of 446,560. 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 Corp has a fifty-two week low of $81.42 and a fifty-two week high of $111.10. The stock has a market capitalization of $3,687.89, a price-to-earnings ratio of 11.99, a PEG ratio of 0.48 and a beta of 0.78.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Monday, November 27th. The company reported $2.00 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.10. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the previous year, the firm posted $1.44 earnings per share. The company’s revenue was up 40.8% on a year-over-year basis. analysts expect that Tech Data Corp will post 9.14 earnings per share for the current fiscal year.
Several research analysts recently commented on TECD shares. Needham & Company LLC lifted their price target on Tech Data from $100.00 to $102.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Northcoast Research reiterated a “neutral” rating on shares of Tech Data in a research report on Monday, August 28th. Zacks Investment Research upgraded Tech Data from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Citigroup reiterated a “hold” rating and issued a $110.00 price target on shares of Tech Data in a research report on Tuesday, November 28th. Finally, Pivotal Research began coverage on Tech Data in a research report on Friday, October 6th. They set a “buy” rating and a $114.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.33.
Several institutional investors have recently bought and sold shares of TECD. LS Investment Advisors LLC raised its stake in Tech Data by 18.5% in the second quarter. LS Investment Advisors LLC now owns 2,716 shares of the company’s stock worth $274,000 after buying an additional 424 shares in the last quarter. State Treasurer State of Michigan raised its stake in Tech Data by 2.1% in the second quarter. State Treasurer State of Michigan now owns 14,350 shares of the company’s stock worth $1,449,000 after buying an additional 300 shares in the last quarter. ING Groep NV bought a new position in Tech Data in the second quarter worth approximately $426,000. Janney Montgomery Scott LLC bought a new position in Tech Data in the second quarter worth approximately $764,000. Finally, Texas Permanent School Fund raised its stake in Tech Data by 1.2% in the second quarter. Texas Permanent School Fund now owns 25,329 shares of the company’s stock worth $2,558,000 after buying an additional 288 shares in the last quarter. 98.35% of the stock is owned by hedge funds and other institutional investors.
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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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