Tech Data Corp. (TECD) Trading 3.4% Higher
Tech Data Corp. (NASDAQ:TECD) traded up 3.4% during trading on Tuesday . The stock traded as high as $88.70 and last traded at $87.66, with a volume of 1,749,675 shares traded. The stock had previously closed at $84.80.
TECD has been the topic of a number of recent research reports. Credit Agricole SA upgraded shares of Tech Data Corp. from an “underperform” rating to a “buy” rating in a research note on Tuesday. Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and lifted their price objective for the company from $75.00 to $96.00 in a research note on Tuesday. Bank of America Corp. upgraded shares of Tech Data Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday. Northcoast Research initiated coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They issued a “neutral” rating on the stock. Finally, Zacks Investment Research lowered shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $78.35.
The firm’s 50 day moving average is $76.34 and its 200 day moving average is $74.57. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 13.88 and a beta of 0.95.
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Tech Data Corp. (NASDAQ:TECD) last issued its earnings results on Thursday, August 25th. The company reported $1.42 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.43 by $0.01. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.63 billion. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The firm’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same period last year, the company posted $1.43 earnings per share. On average, analysts expect that Tech Data Corp. will post $5.94 EPS for the current year.
Several hedge funds have recently modified their holdings of TECD. BNP Paribas Arbitrage SA raised its position in Tech Data Corp. by 401.7% in the second quarter. BNP Paribas Arbitrage SA now owns 24,812 shares of the company’s stock worth $1,783,000 after buying an additional 19,866 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Tech Data Corp. by 3.6% in the first quarter. Geode Capital Management LLC now owns 394,281 shares of the company’s stock valued at $30,267,000 after buying an additional 13,847 shares in the last quarter. State Street Corp increased its position in shares of Tech Data Corp. by 1.9% in the first quarter. State Street Corp now owns 1,296,994 shares of the company’s stock valued at $99,574,000 after buying an additional 24,529 shares in the last quarter. Stifel Financial Corp raised its position in shares of Tech Data Corp. by 4,881.8% in the fourth quarter. Stifel Financial Corp now owns 172,369 shares of the company’s stock worth $13,866,000 after buying an additional 168,909 shares during the period. Finally, UBS Group AG raised its position in shares of Tech Data Corp. by 9.4% in the first quarter. UBS Group AG now owns 35,923 shares of the company’s stock worth $2,758,000 after buying an additional 3,087 shares during the period.
About Tech Data Corp.
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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