Tech Data Corp (TECD) Shares Bought by QS Investors LLC
QS Investors LLC lifted its stake in shares of Tech Data Corp (NASDAQ:TECD) by 0.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,272 shares of the company’s stock after purchasing an additional 100 shares during the period. QS Investors LLC’s holdings in Tech Data were worth $4,522,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of TECD. State Board of Administration of Florida Retirement System lifted its holdings in Tech Data by 0.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 13,180 shares of the company’s stock worth $1,078,000 after acquiring an additional 105 shares during the last quarter. JOYN Advisors Inc. lifted its holdings in Tech Data by 43.5% in the fourth quarter. JOYN Advisors Inc. now owns 511 shares of the company’s stock worth $42,000 after acquiring an additional 155 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Tech Data by 9.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,586 shares of the company’s stock worth $212,000 after acquiring an additional 232 shares during the last quarter. AdvisorNet Financial Inc lifted its holdings in Tech Data by 28.9% in the fourth quarter. AdvisorNet Financial Inc now owns 1,114 shares of the company’s stock worth $91,000 after acquiring an additional 250 shares during the last quarter. Finally, Texas Permanent School Fund lifted its holdings in Tech Data by 1.2% in the fourth quarter. Texas Permanent School Fund now owns 24,420 shares of the company’s stock worth $1,998,000 after acquiring an additional 290 shares during the last quarter. 97.09% of the stock is currently owned by institutional investors and hedge funds.
TECD has been the topic of a number of recent research reports. TheStreet raised shares of Tech Data from a “c+” rating to a “b-” rating in a report on Thursday, December 13th. Needham & Company LLC raised their target price on shares of Tech Data to $110.00 and gave the stock a “buy” rating in a report on Friday, November 30th. BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research raised shares of Tech Data from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Monday, February 4th. Finally, ValuEngine raised shares of Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $97.60.
Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Thursday, March 7th. The company reported $4.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.52. The company had revenue of $10.47 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.50 earnings per share. As a group, analysts anticipate that Tech Data Corp will post 11.72 earnings per share for the current year.
In other news, Director Robert M. Dutkowsky sold 10,000 shares of Tech Data stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $91.02, for a total transaction of $910,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David R. Vetter sold 6,000 shares of Tech Data stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $98.12, for a total value of $588,720.00. Following the sale, the vice president now directly owns 36,570 shares in the company, valued at approximately $3,588,248.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,725 shares of company stock worth $2,167,307. Corporate insiders own 1.10% of the company’s stock.
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Tech Data 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.
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