Convergence Investment Partners LLC acquired a new position in Tech Data Corporation (NASDAQ:TECD) during the second quarter, according to its most recent filing with the SEC. The fund acquired 39,903 shares of the company’s stock, valued at approximately $4,030,000.

Several other institutional investors also recently bought and sold shares of the company. Glen Harbor Capital Management LLC boosted its position in Tech Data Corporation by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,276 shares of the company’s stock worth $120,000 after buying an additional 22 shares during the last quarter. Elkfork Partners LLC boosted its position in Tech Data Corporation by 1.8% in the first quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock worth $152,000 after buying an additional 28 shares during the last quarter. Invictus RG bought a new position in Tech Data Corporation during the first quarter worth $156,000. Meadow Creek Investment Management LLC boosted its position in Tech Data Corporation by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,972 shares of the company’s stock worth $185,000 after buying an additional 34 shares during the last quarter. Finally, Engine Capital Management LLC boosted its position in Tech Data Corporation by 1,083.4% in the first quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock worth $188,000 after buying an additional 1,831 shares during the last quarter. 94.16% of the stock is owned by hedge funds and other institutional investors.

Tech Data Corporation (NASDAQ TECD) opened at 101.15 on Friday. The stock has a market cap of $3.86 billion, a PE ratio of 18.87 and a beta of 0.79. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50. The company’s 50 day moving average is $103.86 and its 200-day moving average is $95.53.

Tech Data Corporation (NASDAQ:TECD) last released its earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.53. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The firm had revenue of $7.66 billion during the quarter, compared to the consensus estimate of $7.31 billion. During the same period in the previous year, the firm earned $1.05 earnings per share. Tech Data Corporation’s revenue was up 28.5% compared to the same quarter last year. On average, equities analysts anticipate that Tech Data Corporation will post $9.76 earnings per share for the current year.

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A number of research firms recently weighed in on TECD. Zacks Investment Research raised shares of Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective for the company in a research report on Thursday, May 25th. BidaskClub cut shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday. Citigroup Inc. raised shares of Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price objective for the company in a research report on Friday, June 2nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 price objective on shares of Tech Data Corporation in a research report on Thursday, June 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $105.57.

In related news, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Robert M. Dutkowsky sold 20,000 shares of the business’s stock in a transaction that occurred on 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. Over the last 90 days, insiders sold 34,888 shares of company stock valued at $3,519,704. 1.60% of the stock is owned by insiders.

About Tech Data Corporation

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

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