Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Tech Data Corporation (NASDAQ:TECD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,973 shares of the company’s stock, valued at approximately $502,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Tech Data Corporation by 15.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock valued at $150,000 after purchasing an additional 195 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Tech Data Corporation by 3.4% during the first quarter. Nomura Asset Management Co. Ltd. now owns 2,460 shares of the company’s stock valued at $231,000 after purchasing an additional 80 shares during the last quarter. Riverhead Capital Management LLC boosted its position in Tech Data Corporation by 78.4% during the second quarter. Riverhead Capital Management LLC now owns 2,497 shares of the company’s stock valued at $252,000 after purchasing an additional 1,097 shares during the last quarter. Oakbrook Investments LLC boosted its position in Tech Data Corporation by 3.0% during the second quarter. Oakbrook Investments LLC now owns 2,575 shares of the company’s stock valued at $260,000 after purchasing an additional 75 shares during the last quarter. Finally, Shelton Capital Management acquired a new position in Tech Data Corporation during the second quarter valued at approximately $264,000.

A number of research firms have recently issued reports on TECD. Zacks Investment Research cut Tech Data Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub cut Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Loop Capital began coverage on 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. Northcoast Research reaffirmed a “neutral” rating on shares of Tech Data Corporation in a research report on Monday, August 28th. Finally, Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Tech Data Corporation in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $109.33.

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

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Tech Data Corporation Company 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.

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

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