Tech Data Corp (NASDAQ:TECD) Director Charles E. Adair sold 2,715 shares of Tech Data stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $90.72, for a total transaction of $246,304.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Tech Data stock opened at $85.87 on Friday. Tech Data Corp has a 52-week low of $66.93 and a 52-week high of $108.62. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46. The stock has a market cap of $3.22 billion, a PE ratio of 9.43, a PEG ratio of 0.90 and a beta of 0.74.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, November 29th. The company reported $3.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $8.92 billion. During the same period in the previous year, the business posted $2.00 earnings per share. The business’s revenue was up 10.6% compared to the same quarter last year. Equities analysts anticipate 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 repurchase program on Tuesday, October 2nd that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional investors and hedge funds have recently modified their holdings of the business. United Services Automobile Association grew its position in Tech Data by 1.3% during the second quarter. United Services Automobile Association now owns 66,572 shares of the company’s stock worth $5,467,000 after buying an additional 847 shares during the period. Northern Trust Corp grew its position in Tech Data by 4.4% during the second quarter. Northern Trust Corp now owns 687,706 shares of the company’s stock worth $56,474,000 after buying an additional 28,976 shares during the period. Engineers Gate Manager LP acquired a new position in Tech Data during the second quarter worth about $1,965,000. Mutual of America Capital Management LLC grew its position in Tech Data by 2.8% during the second quarter. Mutual of America Capital Management LLC now owns 30,624 shares of the company’s stock worth $2,515,000 after buying an additional 833 shares during the period. Finally, Aperio Group LLC grew its position in Tech Data by 31.7% during the second quarter. Aperio Group LLC now owns 55,772 shares of the company’s stock worth $4,580,000 after buying an additional 13,409 shares during the period. Institutional investors own 97.12% of the company’s stock.

A number of research analysts have recently issued reports on the stock. Bank of America lowered shares of Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 price target on the stock. in a research note on Friday, August 31st. BidaskClub lowered shares of Tech Data from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Needham & Company LLC dropped their price target on shares of Tech Data from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, August 31st. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a research note on Friday, November 16th. Finally, Zacks Investment Research lowered shares of Tech Data from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. One research 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’s stock. Tech Data has a consensus rating of “Hold” and a consensus target price of $99.86.

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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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