BidaskClub upgraded shares of Tech Data (NASDAQ:TECD) from a hold rating to a buy rating in a research report report published on Tuesday.
Several other brokerages have also weighed in on TECD. Needham & Company LLC increased their target price on shares of Tech Data from $100.00 to $102.00 and gave the stock a buy rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of Tech Data from a sell rating to a hold rating in a research note on Thursday, October 26th. Citigroup reaffirmed a hold rating and set a $110.00 target price on shares of Tech Data in a research note on Tuesday, November 28th. Pivotal Research assumed coverage on shares of Tech Data in a research note on Friday, October 6th. They issued a buy rating and a $114.00 price objective for the company. Finally, ValuEngine raised shares of Tech Data from a hold rating to a buy rating in a research note on Monday, October 2nd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $112.33.
Tech Data (NASDAQ TECD) opened at $104.85 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 1.35. The firm has a market cap of $3,890.00, a PE ratio of 20.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.78. Tech Data has a 12 month low of $81.42 and a 12 month high of $111.10.
In other news, COO Richard T. Hume sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total value of $303,986.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Amalgamated Bank lifted its stake in Tech Data by 1.6% in the second quarter. Amalgamated Bank now owns 4,990 shares of the company’s stock worth $504,000 after acquiring an additional 80 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Tech Data by 2.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after acquiring an additional 117 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Tech Data by 1.4% in the second quarter. Ameritas Investment Partners Inc. now owns 13,405 shares of the company’s stock worth $1,354,000 after acquiring an additional 187 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Tech Data by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after acquiring an additional 195 shares during the last quarter. Finally, Suntrust Banks Inc. lifted its stake in Tech Data by 4.0% in the second quarter. Suntrust Banks Inc. now owns 5,846 shares of the company’s stock worth $590,000 after acquiring an additional 227 shares during the last quarter. 98.10% of the stock is owned by institutional investors and hedge funds.
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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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