Shell Asset Management Co. maintained its stake in Tech Data Corporation (NASDAQ:TECD) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,725 shares of the company’s stock at the end of the second quarter. Shell Asset Management Co. owned about 0.07% of Tech Data Corporation worth $2,800,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Capital One National Association increased its stake in Tech Data Corporation by 0.3% in the second quarter. Capital One National Association now owns 13,690 shares of the company’s stock worth $1,383,000 after buying an additional 47 shares in the last quarter. Parametrica Management Ltd purchased a new stake in Tech Data Corporation during the first quarter valued at about $222,000. Vanguard Group Inc. increased its stake in Tech Data Corporation by 1.4% in the first quarter. Vanguard Group Inc. now owns 3,738,619 shares of the company’s stock valued at $351,057,000 after buying an additional 51,091 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Tech Data Corporation during the second quarter valued at about $384,000. Finally, Legal & General Group Plc increased its stake in Tech Data Corporation by 2.2% in the first quarter. Legal & General Group Plc now owns 109,511 shares of the company’s stock valued at $10,270,000 after buying an additional 2,347 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.
Tech Data Corporation (NASDAQ:TECD) opened at 102.32 on Friday. The firm has a market capitalization of $3.90 billion, a PE ratio of 19.09 and a beta of 0.79. The stock’s 50 day moving average price is $104.03 and its 200 day moving average price is $96.17. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50.
Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings results on Thursday, June 1st. The company reported $1.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.53. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The business had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.31 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. Tech Data Corporation’s revenue was up 28.5% compared to the same quarter last year. Analysts expect that Tech Data Corporation will post $9.76 earnings per share for the current year.
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TECD has been the topic of several research analyst reports. BidaskClub downgraded Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Bank of America Corporation reiterated a “buy” rating and issued a $110.00 price objective on shares of Tech Data Corporation in a report on Thursday, June 1st. Zacks Investment Research upgraded Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 price objective on the stock in a report on Thursday, May 25th. Finally, Citigroup Inc. upgraded Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price objective on the stock in a report on Friday, June 2nd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $105.57.
In related news, CEO Robert M. Dutkowsky sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $100.08, for a total value of $2,001,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alain Amsellem sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total transaction of $104,630.00. Following the completion of the transaction, the chief financial officer now owns 26,379 shares in the company, valued at $2,760,034.77. The disclosure for this sale can be found here. Insiders sold 34,888 shares of company stock worth $3,519,704 over the last 90 days. 1.60% of the stock is currently owned by company insiders.
About Tech Data Corporation
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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