Tech Data Corp (NASDAQ:TECD) Short Interest Update

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Tech Data Corp (NASDAQ:TECD) was the target of a large decrease in short interest in the month of December. As of December 31st, there was short interest totalling 1,130,000 shares, a decrease of 12.4% from the December 15th total of 1,290,000 shares. Based on an average daily volume of 642,600 shares, the days-to-cover ratio is presently 1.8 days. Currently, 3.2% of the company’s shares are short sold.

Hedge funds have recently made changes to their positions in the company. Carroll Financial Associates Inc. acquired a new stake in shares of Tech Data during the 4th quarter worth approximately $41,000. Tower Research Capital LLC TRC acquired a new stake in shares of Tech Data during the 2nd quarter worth approximately $58,000. NumerixS Investment Technologies Inc acquired a new stake in shares of Tech Data during the 2nd quarter worth approximately $110,000. Point72 Asset Management L.P. acquired a new stake in shares of Tech Data during the 2nd quarter worth approximately $115,000. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Tech Data by 26.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,029 shares of the company’s stock worth $212,000 after buying an additional 420 shares during the period.

A number of analysts have weighed in on the stock. ValuEngine downgraded shares of Tech Data from a “hold” rating to a “sell” rating in a research report on Friday, January 3rd. BidaskClub downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a research report on Friday, December 13th. Loop Capital increased their target price on shares of Tech Data to $150.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Northcoast Research downgraded shares of Tech Data from a “buy” rating to a “neutral” rating in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $113.00.

NASDAQ:TECD traded up $0.06 on Tuesday, reaching $144.21. 429,977 shares of the stock traded hands, compared to its average volume of 449,597. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 12.67 and a beta of 1.19. The company’s 50 day moving average is $142.90 and its 200-day moving average is $115.30. The company has a current ratio of 1.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.44. Tech Data has a 1-year low of $80.20 and a 1-year high of $145.25.

Tech Data (NASDAQ:TECD) last released its earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.03. The business had revenue of $9.12 billion during the quarter, compared to the consensus estimate of $9.37 billion. Tech Data had a net margin of 0.92% and a return on equity of 15.52%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.02 EPS. On average, equities research analysts forecast that Tech Data will post 12.53 EPS for the current fiscal year.

About Tech Data

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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