Tech Data Corporation (NASDAQ:TECD) posted its quarterly earnings results on Thursday. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by $0.32, Bloomberg Earnings reports. Tech Data Corporation had a return on equity of 12.22% and a net margin of 0.63%. The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. During the same period last year, the company posted $1.42 earnings per share. The company’s revenue was up 39.8% compared to the same quarter last year. Tech Data Corporation updated its Q3 guidance to $1.84-2.04 EPS.

Tech Data Corporation (NASDAQ TECD) opened at 87.46 on Friday. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50. The firm’s 50-day moving average is $104.16 and its 200 day moving average is $97.50. The firm has a market capitalization of $3.33 billion, a P/E ratio of 16.32 and a beta of 0.79.

A number of equities analysts have recently weighed in on TECD shares. Northcoast Research reaffirmed a “neutral” rating on shares of Tech Data Corporation in a research note on Monday, August 28th. Stifel Nicolaus dropped their price target on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Loop Capital started coverage on shares of Tech Data Corporation in a research note on Thursday, August 24th. They issued a “buy” rating and a $130.00 price target on the stock. Bank of America Corporation reaffirmed a “buy” rating and issued a $110.00 price target on shares of Tech Data Corporation in a research note on Thursday, June 1st. Finally, Zacks Investment Research raised shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 9th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $107.25.

In other Tech Data Corporation news, CEO Robert M. Dutkowsky sold 20,000 shares of Tech Data Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $100.08, for a total value of $2,001,600.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harry J. Harczak, Jr. sold 1,440 shares of Tech Data Corporation stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $98.83, for a total transaction of $142,315.20. The disclosure for this sale can be found here. Insiders sold a total of 34,888 shares of company stock worth $3,519,704 over the last ninety days. 1.60% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Capital One National Association raised its stake in shares of Tech Data Corporation by 0.3% in the second quarter. Capital One National Association now owns 13,690 shares of the company’s stock valued at $1,383,000 after buying an additional 47 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Tech Data Corporation during the second quarter valued at about $384,000. Vanguard Group Inc. raised its stake in shares of Tech Data Corporation by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,738,619 shares of the company’s stock valued at $351,057,000 after buying an additional 51,091 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Tech Data Corporation by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock valued at $78,816,000 after buying an additional 94,072 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Tech Data Corporation by 2.2% in the first quarter. Legal & General Group Plc now owns 109,511 shares of the company’s stock valued at $10,270,000 after buying an additional 2,347 shares during the last quarter.

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About Tech Data Corporation

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.

Earnings History for Tech Data Corporation (NASDAQ:TECD)

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