Schroder Investment Management Group Trims Holdings in Tech Data Corp (TECD)
Schroder Investment Management Group lowered its position in Tech Data Corp (NASDAQ:TECD) by 12.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 143,107 shares of the company’s stock after selling 21,193 shares during the quarter. Schroder Investment Management Group owned approximately 0.37% of Tech Data worth $11,833,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Tech Data by 8.1% in the second quarter. BlackRock Inc. now owns 4,219,435 shares of the company’s stock valued at $346,500,000 after purchasing an additional 317,967 shares during the period. BTIM Corp. acquired a new position in shares of Tech Data in the second quarter valued at approximately $25,114,000. Acadian Asset Management LLC acquired a new position in shares of Tech Data in the second quarter valued at approximately $20,618,000. LSV Asset Management increased its holdings in shares of Tech Data by 11.2% in the second quarter. LSV Asset Management now owns 1,677,717 shares of the company’s stock valued at $137,774,000 after purchasing an additional 169,337 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Tech Data by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 3,171,615 shares of the company’s stock valued at $260,454,000 after purchasing an additional 121,200 shares during the period. Institutional investors own 96.80% of the company’s stock.
A number of research analysts have recently issued reports on TECD shares. Needham & Company LLC dropped their target price on Tech Data from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Zacks Investment Research lowered Tech Data from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 1st. Bank of America lowered Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 target price on the stock. in a report on Friday, August 31st. BidaskClub lowered Tech Data from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. Finally, Pivotal Research reissued a “buy” rating and issued a $105.00 target price on shares of Tech Data in a report on Sunday, June 3rd. Four research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $100.14.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 30th. The company reported $2.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.11 by ($0.10). Tech Data had a return on equity of 12.67% and a net margin of 0.39%. The business had revenue of $8.89 billion for the quarter, compared to analyst estimates of $8.73 billion. During the same period in the prior year, the company earned $1.74 EPS. The company’s revenue was up 9.8% on a year-over-year basis. equities analysts predict that Tech Data Corp will post 9.96 EPS for the current fiscal year.
Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
Recommended Story: Return on Investment (ROI) Defined, Explained
Receive News & Ratings for Tech Data Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data and related companies with MarketBeat.com's FREE daily email newsletter.