Brandywine Global Investment Management LLC acquired a new position in shares of Tech Data Corp (NASDAQ:TECD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 128,198 shares of the company’s stock, valued at approximately $10,488,000. Brandywine Global Investment Management LLC owned approximately 0.34% of Tech Data at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in TECD. Mackay Shields LLC acquired a new position in shares of Tech Data in the 4th quarter valued at $712,000. Geode Capital Management LLC grew its position in Tech Data by 10.6% in the 4th quarter. Geode Capital Management LLC now owns 534,094 shares of the company’s stock valued at $43,693,000 after buying an additional 51,329 shares during the last quarter. Fort L.P. purchased a new position in Tech Data in the 4th quarter valued at $40,000. ARP Americas LP purchased a new position in Tech Data in the 4th quarter valued at $654,000. Finally, Magnus Financial Group LLC purchased a new position in Tech Data in the 4th quarter valued at $242,000. 96.83% of the stock is currently owned by institutional investors.
In other Tech Data news, VP Beth E. Simonetti sold 592 shares of the business’s stock in a transaction on Friday, January 11th. The shares were sold at an average price of $91.98, for a total transaction of $54,452.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert M. Dutkowsky sold 10,000 shares of the business’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $91.02, for a total transaction of $910,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 22,725 shares of company stock worth $2,167,307 over the last 90 days. Insiders own 1.10% of the company’s stock.
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.
A number of equities analysts recently weighed in on the stock. ValuEngine upgraded shares of Tech Data from a “sell” rating to a “hold” rating in a research report on Friday, November 30th. BidaskClub lowered shares of Tech Data from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research lowered shares of Tech Data from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. TheStreet upgraded shares of Tech Data from a “c+” rating to a “b-” rating in a research report on Thursday, December 13th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $97.60.
About Tech Data
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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