TIAA CREF Investment Management LLC Acquires 28,600 Shares of Tech Data Corporation (TECD)
TIAA CREF Investment Management LLC increased its holdings in Tech Data Corporation (NASDAQ:TECD) by 12.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 259,305 shares of the company’s stock after buying an additional 28,600 shares during the period. TIAA CREF Investment Management LLC owned about 0.68% of Tech Data Corporation worth $26,190,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also modified their holdings of TECD. Bank of Montreal Can raised its stake in Tech Data Corporation by 1.6% in the first quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock worth $286,000 after buying an additional 48 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Tech Data Corporation by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,510 shares of the company’s stock worth $1,081,000 after buying an additional 280 shares in the last quarter. First Trust Advisors LP raised its stake in Tech Data Corporation by 9.1% in the first quarter. First Trust Advisors LP now owns 39,582 shares of the company’s stock worth $3,717,000 after buying an additional 3,291 shares in the last quarter. Comerica Bank raised its stake in Tech Data Corporation by 2.7% in the first quarter. Comerica Bank now owns 27,431 shares of the company’s stock worth $2,680,000 after buying an additional 709 shares in the last quarter. Finally, Swiss National Bank raised its stake in Tech Data Corporation by 0.7% in the first quarter. Swiss National Bank now owns 58,200 shares of the company’s stock worth $5,465,000 after buying an additional 400 shares in the last quarter.
Tech Data Corporation (NASDAQ:TECD) opened at 86.90 on Friday. The firm has a 50-day moving average of $97.87 and a 200 day moving average of $97.33. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 16.49 and a beta of 0.79. Tech Data Corporation has a 12-month low of $68.41 and a 12-month high of $111.10.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. During the same quarter in the previous year, the business posted $1.42 earnings per share. Tech Data Corporation’s revenue for the quarter was up 39.8% compared to the same quarter last year. On average, analysts predict that Tech Data Corporation will post $8.86 earnings per share for the current fiscal year.
A number of equities analysts recently commented on TECD shares. Northcoast Research reissued a “neutral” rating on shares of Tech Data Corporation in a research note on Monday, August 28th. Stifel Nicolaus reduced their price objective on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, September 1st. 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 objective for the company. Bank of America Corporation reissued a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a research note on Thursday, June 1st. Finally, Zacks Investment Research downgraded shares of Tech Data Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $107.33.
In other news, CFO Alain Amsellem sold 1,000 shares of the firm’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total value of $104,630.00. Following the sale, the chief financial officer now directly owns 26,379 shares in the company, valued at approximately $2,760,034.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.60% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: This story was first published by Watch List News and is the property of of Watch List News. If you are accessing this story on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The correct version of this story can be accessed at https://www.watchlistnews.com/tiaa-cref-investment-management-llc-acquires-28600-shares-of-tech-data-corporation-tecd/1584629.html.
Tech Data Corporation Profile
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.
Want to see what other hedge funds are holding TECD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tech Data Corporation (NASDAQ:TECD).
Receive News & Ratings for Tech Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.