Tech Data Corp (TECD) Director Charles E. Adair Sells 2,715 Shares

Tech Data Corp (NASDAQ:TECD) Director Charles E. Adair sold 2,715 shares of Tech Data stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $90.72, for a total value of $246,304.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Shares of Tech Data stock traded down $5.75 during trading on Tuesday, reaching $83.89. The stock had a trading volume of 695,800 shares, compared to its average volume of 420,441. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 9.29, a price-to-earnings-growth ratio of 1.01 and a beta of 0.73. Tech Data Corp has a 52 week low of $66.93 and a 52 week high of $108.62. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.85.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, November 29th. The company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.85. The company had revenue of $9.34 billion for the quarter, compared to analyst estimates of $8.92 billion. Tech Data had a return on equity of 13.92% and a net margin of 0.59%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 earnings per share. On average, equities analysts expect that Tech Data Corp will post 10.17 EPS for the current year.

Tech Data announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 2nd that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Several institutional investors have recently modified their holdings of TECD. Legal & General Group Plc raised its holdings in Tech Data by 0.7% during the second quarter. Legal & General Group Plc now owns 86,760 shares of the company’s stock worth $7,125,000 after acquiring an additional 616 shares in the last quarter. Commonwealth Bank of Australia raised its holdings in Tech Data by 4.1% during the second quarter. Commonwealth Bank of Australia now owns 17,726 shares of the company’s stock worth $1,395,000 after acquiring an additional 700 shares in the last quarter. Arizona State Retirement System raised its holdings in Tech Data by 3.0% during the second quarter. Arizona State Retirement System now owns 24,197 shares of the company’s stock worth $1,987,000 after acquiring an additional 709 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Tech Data by 2.8% during the second quarter. Mutual of America Capital Management LLC now owns 30,624 shares of the company’s stock worth $2,515,000 after acquiring an additional 833 shares in the last quarter. Finally, United Services Automobile Association raised its holdings in Tech Data by 1.3% during the second quarter. United Services Automobile Association now owns 66,572 shares of the company’s stock worth $5,467,000 after acquiring an additional 847 shares in the last quarter. Institutional investors own 97.12% of the company’s stock.

TECD has been the topic of several recent analyst reports. Bank of America lowered Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 target price on the stock. in a report on Friday, August 31st. Needham & Company LLC reduced their target price on Tech Data from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, August 31st. Citigroup reduced their target price on Tech Data from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, August 31st. Zacks Investment Research lowered Tech Data from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Finally, BidaskClub lowered Tech Data from a “hold” rating to a “sell” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Tech Data presently has an average rating of “Hold” and a consensus price target of $99.86.

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Tech Data Company Profile

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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