Bowling Portfolio Management LLC increased its stake in Tech Data Corporation (NASDAQ:TECD) by 569.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,496 shares of the company’s stock after buying an additional 14,881 shares during the period. Bowling Portfolio Management LLC’s holdings in Tech Data Corporation were worth $1,767,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Tech Data Corporation by 12,492.8% in the first quarter. BlackRock Inc. now owns 3,852,635 shares of the company’s stock valued at $361,763,000 after buying an additional 3,822,041 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Tech Data Corporation during the second quarter valued at about $26,404,000. Teachers Advisors LLC raised its position in shares of Tech Data Corporation by 167.6% in the first quarter. Teachers Advisors LLC now owns 318,992 shares of the company’s stock valued at $29,953,000 after buying an additional 199,769 shares in the last quarter. Foresters Investment Management Company Inc. bought a new position in shares of Tech Data Corporation during the first quarter valued at about $16,620,000. Finally, Russell Investments Group Ltd. raised its position in shares of Tech Data Corporation by 41.7% in the second quarter. Russell Investments Group Ltd. now owns 501,681 shares of the company’s stock valued at $50,671,000 after buying an additional 147,558 shares in the last quarter. 96.07% of the stock is owned by institutional investors and hedge funds.
Tech Data Corporation (NASDAQ:TECD) opened at 102.32 on Friday. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 19.09 and a beta of 0.79. The stock has a 50 day moving average price of $104.03 and a 200 day moving average price of $96.17. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.53. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.31 billion. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. Tech Data Corporation’s revenue for the quarter was up 28.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts forecast that Tech Data Corporation will post $9.76 earnings per share for the current year.
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TECD has been the subject of several analyst reports. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 9th. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price for the company in a research report on Friday, June 2nd. Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 target price on shares of Tech Data Corporation in a research report on Thursday, June 1st. Finally, BidaskClub lowered Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Tech Data Corporation currently has an average rating of “Buy” and an average price target of $105.57.
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 filing with the SEC, which can be accessed through this link. Also, CFO Alain Amsellem sold 1,000 shares of Tech Data Corporation stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total transaction of $104,630.00. Following the completion of the sale, the chief financial officer now owns 26,379 shares in the company, valued at $2,760,034.77. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,888 shares of company stock worth $3,519,704. 1.60% of the stock is currently owned by insiders.
Tech Data Corporation 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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