Wells Fargo & Company MN lifted its stake in shares of Tech Data Corp (NASDAQ:TECD) by 163.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 215,384 shares of the company’s stock after acquiring an additional 133,530 shares during the quarter. Wells Fargo & Company MN owned approximately 0.56% of Tech Data worth $19,137,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Tech Data by 24.1% during the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock worth $482,820,000 after acquiring an additional 927,770 shares during the period. Vanguard Group Inc. increased its position in shares of Tech Data by 2.6% during the second quarter. Vanguard Group Inc. now owns 3,834,033 shares of the company’s stock worth $387,237,000 after acquiring an additional 95,414 shares during the period. State Street Corp increased its position in shares of Tech Data by 3.7% during the second quarter. State Street Corp now owns 1,269,882 shares of the company’s stock worth $128,258,000 after acquiring an additional 44,944 shares during the period. JPMorgan Chase & Co. increased its position in shares of Tech Data by 37.5% during the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after acquiring an additional 214,058 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Tech Data by 13.7% during the second quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock worth $78,816,000 after acquiring an additional 94,072 shares during the period. 98.35% of the stock is currently owned by institutional investors and hedge funds.

Tech Data Corp (NASDAQ TECD) opened at $97.95 on Tuesday. The stock has a market cap of $3,656.58, a P/E ratio of 11.89, a P/E/G ratio of 0.48 and a beta of 0.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.89 and a current ratio of 1.35. Tech Data Corp has a 1-year low of $81.42 and a 1-year high of $111.10.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Monday, November 27th. The company reported $2.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.10. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.10 billion. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. Tech Data’s revenue was up 40.8% compared to the same quarter last year. During the same period last year, the company posted $1.44 earnings per share. equities analysts predict that Tech Data Corp will post 9.14 EPS for the current year.

In related news, COO Richard T. Hume sold 3,100 shares of Tech Data stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total transaction of $303,986.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

A number of equities analysts have recently commented on the stock. ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Loop Capital assumed coverage on shares of Tech Data in a report on Thursday, August 24th. They set a “buy” rating and a $130.00 price objective on the stock. Citigroup reissued a “hold” rating and set a $110.00 price objective on shares of Tech Data in a report on Tuesday, November 28th. Pivotal Research set a $114.00 price objective on shares of Tech Data and gave the company a “buy” rating in a report on Tuesday, November 28th. Finally, Raymond James Financial reissued a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.33.

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Tech Data Company 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.

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

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