Sapphire Star Partners LP Sells 1,138 Shares of Tech Data Corporation (TECD)
Sapphire Star Partners LP lowered its stake in shares of Tech Data Corporation (NASDAQ:TECD) by 24.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,470 shares of the company’s stock after selling 1,138 shares during the quarter. Sapphire Star Partners LP’s holdings in Tech Data Corporation were worth $308,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. SpiderRock Advisors LLC bought a new stake in Tech Data Corporation during the third quarter worth $106,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings 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 worth $150,000 after buying an additional 195 shares in the last quarter. Parametrica Management Ltd bought a new stake in Tech Data Corporation during the third quarter worth $217,000. Nomura Asset Management Co. Ltd. grew its holdings 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 worth $231,000 after buying an additional 80 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings 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 worth $252,000 after buying an additional 1,097 shares in the last quarter.
Tech Data Corporation (TECD) traded down $1.79 during mid-day trading on Friday, reaching $90.72. The company’s stock had a trading volume of 316,402 shares, compared to its average volume of 566,871. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.34. Tech Data Corporation has a twelve month low of $74.07 and a twelve month high of $111.10. The stock has a market capitalization of $3,460.88, a PE ratio of 12.10, a P/E/G ratio of 0.47 and a beta of 0.77.
Tech Data Corporation (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 period in the prior year, the firm posted $1.42 EPS. The firm’s revenue for the quarter was up 39.8% on a year-over-year basis. equities research analysts forecast that Tech Data Corporation will post 9.08 earnings per share for the current year.
TECD has been the subject of several recent research reports. Zacks Investment Research downgraded Tech Data Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Loop Capital initiated coverage on Tech Data Corporation in a report on Thursday, August 24th. They set a “buy” rating and a $130.00 price target for the company. Northcoast Research reiterated a “neutral” rating on shares of Tech Data Corporation in a report on Monday, August 28th. Finally, Citigroup Inc. reiterated a “hold” rating and set a $100.00 price target on shares of Tech Data Corporation in a report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Tech Data Corporation has an average rating of “Buy” and an average price target of $109.33.
Tech Data Corporation 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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