Tech Data Corp (TECD) Holdings Reduced by Systematic Financial Management LP

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Systematic Financial Management LP reduced its position in Tech Data Corp (NASDAQ:TECD) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,209 shares of the company’s stock after selling 1,045 shares during the quarter. Systematic Financial Management LP’s holdings in Tech Data were worth $1,353,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Tech Data by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,472,444 shares of the company’s stock valued at $365,890,000 after purchasing an additional 93,303 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Tech Data by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,473,612 shares of the company’s stock worth $248,607,000 after buying an additional 81,529 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Tech Data by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock worth $261,803,000 after buying an additional 34,598 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Tech Data by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,021,605 shares of the company’s stock worth $73,116,000 after buying an additional 16,863 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its holdings in Tech Data by 1.4% during the 4th quarter. Macquarie Group Ltd. now owns 922,562 shares of the company’s stock worth $75,475,000 after buying an additional 12,823 shares during the last quarter. 98.16% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP David R. Vetter sold 2,000 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $110.18, for a total value of $220,360.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Michael Rabinovitch sold 400 shares of the business’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $104.00, for a total value of $41,600.00. Following the completion of the sale, the chief accounting officer now directly owns 6,098 shares of the company’s stock, valued at $634,192. The disclosure for this sale can be found here. Insiders sold a total of 61,141 shares of company stock valued at $6,446,465 over the last three months. Company insiders own 1.10% of the company’s stock.

Shares of Tech Data stock traded down $0.62 on Friday, hitting $99.90. The stock had a trading volume of 1,854 shares, compared to its average volume of 205,040. Tech Data Corp has a 52-week low of $66.93 and a 52-week high of $111.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.24. The company has a market capitalization of $3.68 billion, a P/E ratio of 8.69, a PEG ratio of 3.89 and a beta of 0.96.

Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, March 7th. The company reported $4.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.52. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The business had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $3.50 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts forecast that Tech Data Corp will post 11.77 earnings per share for the current year.

TECD has been the subject of a number of recent analyst reports. Zacks Investment Research raised Tech Data from a “hold” rating to a “buy” rating and set a $108.00 price target for the company in a report on Monday, February 4th. BidaskClub downgraded Tech Data from a “strong-buy” rating to a “buy” rating in a report on Friday, March 1st. Finally, Stifel Nicolaus downgraded Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price target for the company. in a report on Wednesday, April 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Tech Data has a consensus rating of “Hold” and an average target price of $98.83.

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Tech Data Company Profile

Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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

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