SG Americas Securities LLC boosted its stake in shares of Tech Data Corp (NASDAQ:TECD) by 124.9% in the third quarter, HoldingsChannel.com reports. The fund owned 17,543 shares of the company’s stock after purchasing an additional 9,741 shares during the period. SG Americas Securities LLC’s holdings in Tech Data were worth $1,256,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. grew its holdings in Tech Data by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 153,743 shares of the company’s stock worth $13,089,000 after acquiring an additional 3,741 shares during the period. Bank of Montreal Can acquired a new stake in shares of Tech Data in the 2nd quarter valued at about $2,550,000. Dupont Capital Management Corp acquired a new stake in shares of Tech Data in the 2nd quarter valued at about $395,000. Aperio Group LLC grew its stake in shares of Tech Data by 31.7% in the 2nd quarter. Aperio Group LLC now owns 55,772 shares of the company’s stock valued at $4,580,000 after buying an additional 13,409 shares during the period. Finally, Alps Advisors Inc. acquired a new stake in shares of Tech Data in the 2nd quarter valued at about $363,000. 97.12% of the stock is owned by institutional investors.

In related news, Director Charles E. Adair sold 2,715 shares of the firm’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $90.72, for a total value of $246,304.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.

Several brokerages have recently commented on TECD. Needham & Company LLC raised their target price on Tech Data to $110.00 and gave the company a “buy” rating in a research note on Friday, November 30th. ValuEngine upgraded Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, November 30th. Bank of America downgraded Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 target price for the company. in a research note on Friday, August 31st. Citigroup reduced their target price on Tech Data from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, August 31st. Finally, BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $99.86.

Shares of TECD opened at $83.91 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.85. The stock has a market capitalization of $3.29 billion, a PE ratio of 8.28, a PEG ratio of 0.92 and a beta of 0.74. Tech Data Corp has a one year low of $66.93 and a one year high of $108.62.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, November 29th. The company reported $3.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.17 by $0.85. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. The business had revenue of $9.34 billion for the quarter, compared to analysts’ expectations of $8.92 billion. During the same quarter last year, the firm earned $2.00 EPS. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, sell-side analysts forecast that Tech Data Corp will post 10.7 earnings per share for the current fiscal year.

Tech Data declared that its Board of Directors has authorized a stock buyback plan on Tuesday, October 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

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About Tech Data

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.

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

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