First Quadrant L P CA Trims Holdings in Tech Data Corporation (TECD)

First Quadrant L P CA cut its stake in Tech Data Corporation (NASDAQ:TECD) by 10.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,099 shares of the company’s stock after selling 1,580 shares during the period. First Quadrant L P CA’s holdings in Tech Data Corporation were worth $1,164,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TECD. Wellington Management Group LLP bought a new stake in Tech Data Corporation in the 1st quarter valued at $1,886,000. Teachers Advisors LLC boosted its holdings in Tech Data Corporation by 167.6% in the 1st quarter. Teachers Advisors LLC now owns 318,992 shares of the company’s stock valued at $29,953,000 after purchasing an additional 199,769 shares during the period. Thrivent Financial For Lutherans boosted its holdings in Tech Data Corporation by 7.4% in the 1st quarter. Thrivent Financial For Lutherans now owns 6,530 shares of the company’s stock valued at $613,000 after purchasing an additional 450 shares during the period. UBS Group AG boosted its holdings in Tech Data Corporation by 51.1% in the 1st quarter. UBS Group AG now owns 23,642 shares of the company’s stock valued at $2,220,000 after purchasing an additional 7,991 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its holdings in Tech Data Corporation by 7.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 223,376 shares of the company’s stock valued at $20,976,000 after purchasing an additional 15,176 shares during the period.

TECD has been the subject of a number of research reports. Loop Capital reissued a “buy” rating and issued a $120.00 price target (down from $130.00) on shares of Tech Data Corporation in a report on Friday, September 1st. Stifel Nicolaus reduced their price target on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating for the company in a report on Friday, September 1st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target (down from $107.00) on shares of Tech Data Corporation in a report on Monday, September 18th. Northcoast Research upgraded shares of Tech Data Corporation from a “neutral” rating to a “buy” rating in a research note on Tuesday, September 5th. Finally, ValuEngine upgraded shares of Tech Data Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $109.33.

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Tech Data Corporation (NASDAQ TECD) opened at $90.72 on Friday. The company has a market cap of $3,529.18, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.34.

Tech Data Corporation (NASDAQ:TECD) last announced its earnings results on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.74 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year. equities research analysts forecast that Tech Data Corporation will post 9.08 earnings per share for the current year.

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

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