Systematic Financial Management LP grew its position in Tech Data Corporation (NASDAQ:TECD) by 112.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 42,229 shares of the company’s stock after acquiring an additional 22,385 shares during the period. Systematic Financial Management LP owned 0.11% of Tech Data Corporation worth $4,265,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently made changes to their positions in TECD. Glen Harbor Capital Management LLC raised its position in Tech Data Corporation by 1.8% during the 1st quarter. Glen Harbor Capital Management LLC now owns 1,276 shares of the company’s stock worth $120,000 after purchasing an additional 22 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tech Data Corporation by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after purchasing an additional 195 shares during the last quarter. Elkfork Partners LLC raised its position in Tech Data Corporation by 1.8% during the 1st quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock worth $152,000 after purchasing an additional 28 shares during the last quarter. Invictus RG bought a new position in Tech Data Corporation during the 1st quarter worth $156,000. Finally, Meadow Creek Investment Management LLC raised its position in Tech Data Corporation by 1.8% during the 1st quarter. Meadow Creek Investment Management LLC now owns 1,972 shares of the company’s stock worth $185,000 after purchasing an additional 34 shares during the last quarter.
In other news, CFO Alain Amsellem sold 1,648 shares of the stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the sale, the chief financial officer now directly owns 26,479 shares in the company, valued at $2,814,982.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert M. Dutkowsky sold 20,000 shares of the stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $100.08, for a total transaction of $2,001,600.00. The disclosure for this sale can be found here. Insiders sold 22,648 shares of company stock valued at $2,281,429 over the last quarter. Company insiders own 1.60% of the company’s stock.
TECD has been the subject of several analyst reports. Loop Capital reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Stifel Nicolaus decreased their price target on Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, September 1st. Bank of America Corporation reiterated a “buy” rating and set a $110.00 price target on shares of Tech Data Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a report on Thursday, May 25th. Finally, BidaskClub downgraded Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Tech Data Corporation presently has a consensus rating of “Buy” and a consensus price target of $106.38.
Tech Data Corporation (NASDAQ:TECD) opened at 87.75 on Wednesday. The firm’s 50-day moving average price is $97.87 and its 200-day moving average price is $97.33. Tech Data Corporation has a 1-year low of $68.41 and a 1-year high of $111.10. The firm has a market cap of $3.35 billion, a P/E ratio of 16.65 and a beta of 0.79.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $2.06 by ($0.32). The business had revenue of $8.88 billion during the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the company earned $1.42 earnings per share. Equities research analysts anticipate that Tech Data Corporation will post $8.86 earnings per share for the current fiscal year.
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Tech Data Corporation Profile
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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