BidaskClub Lowers Tech Data Corporation (TECD) to Hold

BidaskClub downgraded shares of Tech Data Corporation (NASDAQ:TECD) from a buy rating to a hold rating in a report published on Friday morning.

TECD has been the topic of several other research reports. Bank of America Corporation restated a buy rating and set a $110.00 price objective on shares of Tech Data Corporation in a report on Thursday, June 1st. Zacks Investment Research downgraded shares of Tech Data Corporation from a strong-buy rating to a sell rating in a report on Wednesday, May 3rd. Finally, Citigroup Inc. upgraded shares of 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 equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $105.57.

Shares of Tech Data Corporation (NASDAQ TECD) traded up 1.19% during midday trading on Friday, reaching $102.35. 99,832 shares of the company’s stock traded hands. The company has a 50 day moving average of $103.86 and a 200 day moving average of $95.53. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50. The firm has a market cap of $3.90 billion, a PE ratio of 19.10 and a beta of 0.79.

Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, June 1st. The company reported $1.87 earnings per share for the quarter, topping 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 firm had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.31 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The business’s revenue was up 28.5% on a year-over-year basis. On average, equities analysts predict that Tech Data Corporation will post $9.76 EPS for the current fiscal year.

WARNING: “BidaskClub Lowers Tech Data Corporation (TECD) to Hold” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://sportsperspectives.com/2017/08/14/bidaskclub-lowers-tech-data-corporation-tecd-to-hold.html.

In other news, insider Joseph H. Quaglia sold 4,800 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $103.00, for a total value of $494,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David R. Vetter sold 6,000 shares of the stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $100.26, for a total transaction of $601,560.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,888 shares of company stock valued at $3,519,704. 1.60% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Tech Data Corporation by 24.1% in the second quarter. BlackRock Inc. now owns 4,780,405 shares of the company’s stock valued at $482,820,000 after buying an additional 927,770 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Tech Data Corporation by 2.6% in the second quarter. Vanguard Group Inc. now owns 3,834,033 shares of the company’s stock valued at $387,237,000 after buying an additional 95,414 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Tech Data Corporation by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 3,039,981 shares of the company’s stock valued at $285,451,000 after buying an additional 69,458 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after buying an additional 214,058 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Tech Data Corporation by 13.7% in the second quarter. Bank of New York Mellon Corp now owns 780,356 shares of the company’s stock valued at $78,816,000 after buying an additional 94,072 shares in the last quarter. Institutional investors own 96.07% of the company’s stock.

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.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

Receive News & Ratings for Tech Data Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tech Data Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply