KBC Group NV lowered its stake in Tech Data Corp (NASDAQ:TECD) by 1.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,972 shares of the company’s stock after selling 629 shares during the period. KBC Group NV owned 0.09% of Tech Data worth $3,328,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Palisade Capital Management LLC NJ purchased a new position in shares of Tech Data in the third quarter worth $888,000. American Century Companies Inc. raised its holdings in shares of Tech Data by 139.1% in the third 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. USA Financial Portformulas Corp purchased a new position in shares of Tech Data in the third quarter worth $592,000. APG Asset Management N.V. acquired a new stake in shares of Tech Data in the third quarter worth $4,762,000. Finally, Copper Rock Capital Partners LLC increased its stake in shares of Tech Data by 3.6% in the fourth quarter. Copper Rock Capital Partners LLC now owns 235,314 shares of the company’s stock worth $23,113,000 after acquiring an additional 8,146 shares during the period. 99.27% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on TECD shares. Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research note on Thursday, October 26th. BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Tuesday, January 9th. Citigroup reiterated a “hold” rating and issued a $110.00 price objective on shares of Tech Data in a research note on Tuesday, November 28th. Needham & Company LLC increased their price objective on shares of Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, Pivotal Research set a $114.00 price objective on shares of Tech Data and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Tech Data has an average rating of “Buy” and an average price target of $112.33.
Shares of Tech Data Corp (NASDAQ TECD) opened at $99.10 on Tuesday. The firm has a market cap of $3,780.00, a price-to-earnings ratio of 18.91, a PEG ratio of 0.43 and a beta of 0.69. Tech Data Corp has a 52 week low of $81.42 and a 52 week high of $111.10. 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 (NASDAQ:TECD) last released its quarterly earnings data 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 firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The business’s quarterly revenue was up 40.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.44 earnings per share. research analysts forecast that Tech Data Corp will post 9.14 EPS for the current fiscal year.
In related news, COO Richard T. Hume sold 3,100 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is currently owned by company insiders.
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.
Want to see what other hedge funds are holding TECD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tech Data Corp (NASDAQ:TECD).
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.