American Century Companies Inc. Decreases Position in Tech Data (TECD)

American Century Companies Inc. decreased its position in shares of Tech Data (NASDAQ:TECD) by 28.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 216,432 shares of the company’s stock after selling 84,506 shares during the period. American Century Companies Inc. owned about 0.57% of Tech Data worth $18,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Tech Data by 1.6% during the 4th quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock worth $367,063,000 after acquiring an additional 59,230 shares in the last quarter. Vident Investment Advisory LLC raised its position in Tech Data by 6.5% in the 4th quarter. Vident Investment Advisory LLC now owns 25,857 shares of the company’s stock valued at $2,533,000 after purchasing an additional 1,573 shares in the last quarter. Alliancebernstein L.P. raised its position in Tech Data by 35.8% in the 4th quarter. Alliancebernstein L.P. now owns 101,365 shares of the company’s stock valued at $9,931,000 after purchasing an additional 26,700 shares in the last quarter. Teacher Retirement System of Texas raised its position in Tech Data by 319.1% in the 4th quarter. Teacher Retirement System of Texas now owns 13,268 shares of the company’s stock valued at $1,300,000 after purchasing an additional 10,102 shares in the last quarter. Finally, Macquarie Group Ltd. raised its position in Tech Data by 0.5% in the 4th quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock valued at $64,428,000 after purchasing an additional 3,119 shares in the last quarter. 94.67% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have issued reports on the company. TheStreet lowered Tech Data from a “b-” rating to a “c” rating in a research report on Friday, April 6th. ValuEngine lowered Tech Data from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. BidaskClub lowered Tech Data from a “buy” rating to a “hold” rating in a research report on Thursday, January 25th. Citigroup reduced their price target on Tech Data from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, March 9th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 price target (down previously from $120.00) on shares of Tech Data in a research report on Friday, March 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $110.29.

TECD stock opened at $82.33 on Friday. The company has a current ratio of 1.26, a quick ratio of 0.88 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $3.09 billion, a price-to-earnings ratio of 9.04, a P/E/G ratio of 1.01 and a beta of 0.87. Tech Data has a 1 year low of $80.11 and a 1 year high of $81.05.

Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, March 8th. The company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.03). Tech Data had a net margin of 0.32% and a return on equity of 12.83%. The business had revenue of $11.09 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same quarter in the previous year, the company posted $2.45 EPS. The company’s revenue was up 49.3% compared to the same quarter last year. equities analysts forecast that Tech Data will post 10.65 EPS for the current fiscal year.

About Tech Data

Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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

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