Norges Bank acquired a new position in Tech Data Corp (NASDAQ:TECD) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 481,215 shares of the company’s stock, valued at approximately $40,749,000. Norges Bank owned 1.37% of Tech Data Corp as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of TECD. FMR LLC increased its position in Tech Data Corp by 2.9% in the fourth quarter. FMR LLC now owns 5,163,168 shares of the company’s stock worth $437,217,000 after buying an additional 143,225 shares during the period. BlackRock Fund Advisors increased its position in Tech Data Corp by 6.2% in the third quarter. BlackRock Fund Advisors now owns 1,868,825 shares of the company’s stock worth $158,308,000 after buying an additional 109,686 shares during the period. State Street Corp increased its position in Tech Data Corp by 0.4% in the fourth quarter. State Street Corp now owns 1,222,451 shares of the company’s stock worth $103,514,000 after buying an additional 5,129 shares during the period. Bank of New York Mellon Corp increased its position in Tech Data Corp by 2.1% in the third quarter. Bank of New York Mellon Corp now owns 940,799 shares of the company’s stock worth $79,695,000 after buying an additional 19,074 shares during the period. Finally, Northern Trust Corp increased its position in Tech Data Corp by 1.0% in the third quarter. Northern Trust Corp now owns 697,329 shares of the company’s stock worth $59,071,000 after buying an additional 6,638 shares during the period.
Tech Data Corp (NASDAQ:TECD) traded down 0.15% during mid-day trading on Friday, hitting $93.00. 363,189 shares of the stock were exchanged. Tech Data Corp has a 52 week low of $61.99 and a 52 week high of $96.38. The stock’s 50-day moving average is $92.00 and its 200 day moving average is $86.24. The company has a market capitalization of $3.54 billion, a PE ratio of 16.88 and a beta of 0.90.
Tech Data Corp (NASDAQ:TECD) last posted its quarterly earnings results on Wednesday, March 8th. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.17 by $0.28. Tech Data Corp had a return on equity of 10.51% and a net margin of 0.81%. The business earned $7.43 billion during the quarter, compared to the consensus estimate of $7.50 billion. During the same period in the prior year, the company posted $2.29 EPS. The firm’s revenue for the quarter was down .7% compared to the same quarter last year. On average, analysts anticipate that Tech Data Corp will post $8.92 EPS for the current year.
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A number of brokerages have recently commented on TECD. Needham & Company LLC raised shares of Tech Data Corp from a “hold” rating to a “buy” rating and set a $107.00 price objective for the company in a research report on Thursday, March 9th. Zacks Investment Research raised shares of Tech Data Corp from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective for the company in a research report on Tuesday, March 7th. Finally, Brean Capital reissued a “buy” rating on shares of Tech Data Corp in a research report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Tech Data Corp has a consensus rating of “Buy” and a consensus target price of $99.43.
In other news, SVP Jeffrey Louis Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $91.23, for a total transaction of $91,230.00. Following the sale, the senior vice president now directly owns 7,563 shares of the company’s stock, valued at approximately $689,972.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles E. Adair sold 3,323 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $94.01, for a total value of $312,395.23. The disclosure for this sale can be found here. Insiders have sold a total of 12,047 shares of company stock worth $1,129,364 over the last ninety days. Insiders own 1.80% of the company’s stock.
About Tech Data Corp
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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