KBC Group NV boosted its holdings in shares of Tech Data Corporation (NASDAQ:TECD) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,601 shares of the company’s stock after purchasing an additional 1,512 shares during the quarter. KBC Group NV owned about 0.09% of Tech Data worth $3,074,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. SpiderRock Advisors LLC purchased a new stake in shares of Tech Data in the third quarter valued at $106,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tech Data by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock valued at $150,000 after acquiring an additional 195 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tech Data in the third quarter valued at $201,000. Cipher Capital LP purchased a new stake in shares of Tech Data in the third quarter valued at $206,000. Finally, Schroder Investment Management Group purchased a new stake in shares of Tech Data in the third quarter valued at $215,000. 98.38% of the stock is currently owned by institutional investors.
Tech Data Corporation (TECD) opened at $96.66 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66. The company has a market cap of $3,637.53, a PE ratio of 11.83, a PEG ratio of 0.48 and a beta of 0.78. Tech Data Corporation has a 1-year low of $81.42 and a 1-year high of $111.10.
In other news, COO Richard T. Hume sold 3,100 shares of the company’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $98.06, for a total value of $303,986.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.60% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Citigroup reissued a “hold” rating and issued a $110.00 target price on shares of Tech Data in a research note on Tuesday, November 28th. ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Pivotal Research set a $114.00 target price on shares of Tech Data and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, Needham & Company LLC increased their target price on shares of Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, November 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Tech Data presently 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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