A number of other research analysts also recently issued reports on TECD. Citigroup dropped their price objective on Tech Data from $105.00 to $100.00 and set a neutral rating on the stock in a research note on Friday, May 31st. Zacks Investment Research raised Tech Data from a hold rating to a buy rating and set a $103.00 price objective on the stock in a research note on Friday, May 24th. ValuEngine downgraded Tech Data from a hold rating to a sell rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus downgraded Tech Data from a buy rating to a hold rating and set a $105.00 price objective on the stock. in a research note on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $99.60.
Shares of TECD opened at $86.21 on Tuesday. The company has a market capitalization of $3.27 billion, a PE ratio of 7.58, a PEG ratio of 2.51 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 0.84 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average price is $98.26 and its two-hundred day moving average price is $100.55. Tech Data has a 12 month low of $66.93 and a 12 month high of $111.08.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, May 30th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.06. The company had revenue of $8.41 billion for the quarter, compared to the consensus estimate of $8.45 billion. Tech Data had a return on equity of 15.28% and a net margin of 0.98%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.84 EPS. Equities research analysts predict that Tech Data will post 11.98 EPS for the current fiscal year.
In related news, Director Harry J. Harczak, Jr. sold 2,200 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $95.29, for a total value of $209,638.00. Following the completion of the sale, the director now directly owns 12,837 shares of the company’s stock, valued at approximately $1,223,237.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP John A. Tonnison sold 4,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $102.30, for a total value of $409,200.00. Following the completion of the sale, the vice president now directly owns 29,657 shares of the company’s stock, valued at $3,033,911.10. The disclosure for this sale can be found here. Insiders sold a total of 8,200 shares of company stock valued at $819,858 over the last ninety days. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of TECD. Zacks Investment Management lifted its stake in Tech Data by 2.7% in the second quarter. Zacks Investment Management now owns 24,687 shares of the company’s stock valued at $2,582,000 after purchasing an additional 644 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Tech Data in the second quarter valued at approximately $52,578,000. UBS Asset Management Americas Inc. lifted its stake in Tech Data by 1.4% in the second quarter. UBS Asset Management Americas Inc. now owns 80,160 shares of the company’s stock valued at $8,385,000 after purchasing an additional 1,111 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Tech Data by 63.7% in the second quarter. Cubist Systematic Strategies LLC now owns 24,819 shares of the company’s stock valued at $2,596,000 after purchasing an additional 9,662 shares during the last quarter. Finally, Jefferies Group LLC lifted its stake in Tech Data by 15.4% in the second quarter. Jefferies Group LLC now owns 2,601 shares of the company’s stock valued at $272,000 after purchasing an additional 348 shares during the last quarter. 99.70% of the stock is owned by institutional investors and hedge funds.
About Tech Data
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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