Victory Capital Management Inc. Lowers Holdings in Tech Data Corporation (TECD)

Victory Capital Management Inc. cut its position in shares of Tech Data Corporation (NASDAQ:TECD) by 14.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 619,720 shares of the company’s stock after selling 102,572 shares during the quarter. Victory Capital Management Inc. owned 1.62% of Tech Data Corporation worth $55,062,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TECD. BlackRock Inc. grew its position in Tech Data Corporation by 24.1% during the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after buying an additional 927,770 shares in the last quarter. Janus Henderson Group PLC bought a new position in Tech Data Corporation during the second quarter worth about $35,974,000. Numeric Investors LLC lifted its stake in Tech Data Corporation by 1,589.9% during the second quarter. Numeric Investors LLC now owns 326,156 shares of the company’s stock worth $32,942,000 after purchasing an additional 306,856 shares during the period. Peregrine Capital Management LLC bought a new position in Tech Data Corporation during the second quarter worth about $26,404,000. Finally, JPMorgan Chase & Co. lifted its stake in Tech Data Corporation by 37.5% during the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after purchasing an additional 214,058 shares during the period.

COPYRIGHT VIOLATION WARNING: This article was first published by Week Herald and is owned by of Week Herald. If you are reading this article on another publication, it was copied illegally and reposted in violation of US & international copyright & trademark laws. The legal version of this article can be viewed at https://weekherald.com/2017/11/15/victory-capital-management-inc-has-55-06-million-holdings-in-tech-data-corporation-tecd.html.

Shares of Tech Data Corporation (NASDAQ TECD) opened at $89.82 on Wednesday. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The stock has a market cap of $3,450.97, a PE ratio of 12.06, a PEG ratio of 0.47 and a beta of 0.77. Tech Data Corporation has a fifty-two week low of $78.46 and a fifty-two week high of $111.10.

Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. During the same quarter last year, the company posted $1.42 EPS. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. analysts predict that Tech Data Corporation will post 9.08 earnings per share for the current year.

A number of research analysts have recently issued reports on TECD shares. Zacks Investment Research upgraded shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub cut shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. ValuEngine upgraded shares of Tech Data Corporation from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital assumed coverage on shares of Tech Data Corporation in a research report on Thursday, August 24th. They issued a “buy” rating and a $130.00 price objective for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective (down previously from $107.00) on shares of Tech Data Corporation in a research report on Monday, September 18th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $109.33.

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.

Institutional Ownership by Quarter for Tech Data Corporation (NASDAQ:TECD)

Receive News & Ratings for Tech Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply