United Services Automobile Association increased its position in shares of Tech Data Corporation (NASDAQ:TECD) by 38.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,740 shares of the company’s stock after buying an additional 1,600 shares during the period. United Services Automobile Association’s holdings in Tech Data Corporation were worth $539,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TECD. Credit Agricole S A increased its stake in shares of Tech Data Corporation by 4.1% in the first quarter. Credit Agricole S A now owns 5,108 shares of the company’s stock worth $480,000 after buying an additional 200 shares during the period. Kempen Capital Management N.V. increased its stake in shares of Tech Data Corporation by 141.9% in the first quarter. Kempen Capital Management N.V. now owns 15,964 shares of the company’s stock worth $1,499,000 after buying an additional 9,365 shares during the period. Dynamic Technology Lab Private Ltd increased its stake in shares of Tech Data Corporation by 53.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 6,469 shares of the company’s stock worth $608,000 after buying an additional 2,246 shares during the period. Venturi Wealth Management LLC acquired a new stake in shares of Tech Data Corporation during the first quarter worth about $206,000. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of Tech Data Corporation by 413.2% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 21,555 shares of the company’s stock worth $2,023,000 after buying an additional 17,355 shares during the period. Hedge funds and other institutional investors own 93.22% of the company’s stock.
Tech Data Corporation (TECD) traded down 2.34% during midday trading on Thursday, hitting $103.26. The company had a trading volume of 354,947 shares. The company’s 50 day moving average is $102.69 and its 200 day moving average is $94.08. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 19.27 and a beta of 0.79. Tech Data Corporation has a 12-month low of $67.67 and a 12-month high of $106.92.
Tech Data Corporation (NASDAQ:TECD) last posted its earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.53. The company had revenue of $7.66 billion during the quarter, compared to analysts’ expectations of $7.31 billion. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. Tech Data Corporation’s quarterly revenue was up 28.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. On average, equities analysts anticipate that Tech Data Corporation will post $9.76 EPS for the current fiscal year.
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TECD has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Tech Data Corporation from a “strong-buy” rating to a “sell” rating in a report on Wednesday, May 3rd. Bank of America Corporation reissued a “buy” rating and issued a $110.00 target price on shares of Tech Data Corporation in a report on Thursday, June 1st. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price for the company in a report on Friday, June 2nd. Finally, BidaskClub downgraded Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 15th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Tech Data Corporation currently has a consensus rating of “Buy” and a consensus target price of $105.57.
In other Tech Data Corporation news, insider Joseph H. Quaglia sold 4,800 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alain Amsellem sold 1,648 shares of the firm’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $106.31, for a total transaction of $175,198.88. Following the completion of the transaction, the chief financial officer now directly owns 26,479 shares in the company, valued at $2,814,982.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,888 shares of company stock worth $3,519,704. 1.60% of the stock is owned by 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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