Dynamic Technology Lab Private Ltd Buys New Position in Tech Data Corporation (TECD)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Tech Data Corporation (NASDAQ:TECD) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,260 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. SpiderRock Advisors LLC purchased a new position in Tech Data during the 3rd quarter valued at about $106,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tech Data by 15.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock valued at $150,000 after acquiring an additional 195 shares during the period. Cipher Capital LP purchased a new position in Tech Data during the 3rd quarter valued at about $206,000. Parametrica Management Ltd purchased a new position in Tech Data during the 3rd quarter valued at about $217,000. Finally, Riverhead Capital Management LLC lifted its position in Tech Data by 78.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,497 shares of the company’s stock valued at $252,000 after acquiring an additional 1,097 shares during the period. 98.38% of the stock is owned by institutional investors.

In other news, COO Richard T. Hume sold 3,100 shares of Tech Data stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $98.06, for a total value of $303,986.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.60% of the company’s stock.

Several research analysts have issued reports on the stock. BidaskClub cut shares of Tech Data from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Citigroup reaffirmed a “hold” rating and issued a $110.00 target price on shares of Tech Data in a report on Tuesday, November 28th. ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 29th. Pivotal Research set a $114.00 target price on shares of Tech Data and gave the stock a “buy” rating in a report on Tuesday, November 28th. Finally, Needham & Company LLC lifted their target price on shares of Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, November 28th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $112.33.

Tech Data Corporation (NASDAQ:TECD) opened at $96.66 on Friday. Tech Data Corporation has a twelve month low of $81.42 and a twelve month high of $111.10. The stock has a market cap of $3,637.53, a PE ratio of 11.83, a price-to-earnings-growth ratio of 0.48 and a beta of 0.78. The company has a quick ratio of 0.89, a current ratio of 1.35 and a debt-to-equity ratio of 0.66.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.10. Tech Data had a net margin of 0.59% and a return on equity of 11.90%. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. sell-side analysts predict that Tech Data Corporation will post 9.14 EPS for the current fiscal year.

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Tech Data Company Profile

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

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