Hsbc Holdings PLC lowered its stake in shares of Tech Data Corp (NASDAQ:TECD) by 51.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,736 shares of the company’s stock after selling 25,805 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Tech Data worth $2,024,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. Enlightenment Research LLC acquired a new stake in Tech Data during the fourth quarter worth approximately $25,000. JOYN Advisors Inc. grew its position in Tech Data by 43.5% in the 4th quarter. JOYN Advisors Inc. now owns 511 shares of the company’s stock valued at $42,000 after buying an additional 155 shares during the last quarter. First Hawaiian Bank purchased a new position in Tech Data in the 4th quarter valued at $48,000. AdvisorNet Financial Inc grew its position in Tech Data by 28.9% in the 4th quarter. AdvisorNet Financial Inc now owns 1,114 shares of the company’s stock valued at $91,000 after buying an additional 250 shares during the last quarter. Finally, Cutler Group LP grew its position in Tech Data by 357.4% in the 4th quarter. Cutler Group LP now owns 1,148 shares of the company’s stock valued at $93,000 after buying an additional 897 shares during the last quarter. 96.83% of the stock is currently owned by institutional investors.
TECD has been the topic of a number of analyst reports. TheStreet upgraded shares of Tech Data from a “c+” rating to a “b-” rating in a research report on Thursday, December 13th. BidaskClub upgraded shares of Tech Data from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, January 15th. Needham & Company LLC lifted their price objective on shares of Tech Data to $110.00 and gave the company a “buy” rating in a research report on Friday, November 30th. Zacks Investment Research upgraded shares of Tech Data from a “hold” rating to a “buy” rating and set a $108.00 price objective on the stock in a research report on Monday, February 4th. Finally, ValuEngine upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Tech Data has a consensus rating of “Hold” and a consensus target price of $97.60.
Shares of NASDAQ TECD opened at $103.61 on Wednesday. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 4.04 and a beta of 0.96. Tech Data Corp has a one year low of $66.93 and a one year high of $108.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.24.
Tech Data (NASDAQ:TECD) last issued its earnings results on Thursday, March 7th. The company reported $4.55 EPS for the quarter, topping the consensus estimate of $4.03 by $0.52. The company had revenue of $10.47 billion for the quarter, compared to analyst estimates of $10.63 billion. Tech Data had a net margin of 0.91% and a return on equity of 15.17%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $3.50 EPS. Analysts forecast that Tech Data Corp will post 11.72 EPS for the current year.
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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