Traders Sell Shares of Tech Data Corp. (TECD) on Strength (TECD)
Traders sold shares of Tech Data Corp. (NASDAQ:TECD) on strength during trading on Tuesday. $60.23 million flowed into the stock on the tick-up and $73.91 million flowed out of the stock on the tick-down, for a money net flow of $13.68 million out of the stock. Of all stocks tracked, Tech Data Corp. had the 0th highest net out-flow for the day. Tech Data Corp. traded up $0.28 for the day and closed at $85.08
TECD has been the topic of a number of recent research reports. Brean Capital reiterated a “buy” rating and set a $82.00 price target on shares of Tech Data Corp. in a research note on Friday, August 26th. Northcoast Research initiated coverage on shares of Tech Data Corp. in a research note on Wednesday, August 10th. They set a “neutral” rating on the stock. Zacks Investment Research downgraded shares of Tech Data Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Credit Agricole SA upgraded shares of Tech Data Corp. from an “underperform” rating to a “buy” rating in a research note on Tuesday. Finally, Stifel Nicolaus upgraded shares of Tech Data Corp. from a “hold” rating to a “buy” rating and lifted their price target for the stock from $75.00 to $96.00 in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Tech Data Corp. presently has an average rating of “Hold” and a consensus price target of $78.35.
The company has a market capitalization of $3.00 billion, a P/E ratio of 13.81 and a beta of 0.95. The stock’s 50-day moving average price is $76.53 and its 200 day moving average price is $74.62.
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Tech Data Corp. (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 25th. The company reported $1.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by $0.01. Tech Data Corp. had a return on equity of 10.39% and a net margin of 0.83%. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.63 billion. During the same quarter in the prior year, the company earned $1.43 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities analysts anticipate that Tech Data Corp. will post $5.93 EPS for the current year.
Several large investors have recently made changes to their positions in the company. Macquarie Group Ltd. boosted its stake in shares of Tech Data Corp. by 2.8% in the second quarter. Macquarie Group Ltd. now owns 667,822 shares of the company’s stock worth $47,983,000 after buying an additional 18,286 shares in the last quarter. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of Tech Data Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock worth $437,000 after buying an additional 27 shares in the last quarter. Mason Street Advisors LLC bought a new stake in shares of Tech Data Corp. during the second quarter worth about $1,153,000. Sterling Capital Management LLC boosted its stake in shares of Tech Data Corp. by 0.6% in the second quarter. Sterling Capital Management LLC now owns 14,095 shares of the company’s stock worth $1,013,000 after buying an additional 80 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of Tech Data Corp. by 11.2% in the second quarter. Stifel Financial Corp now owns 26,442 shares of the company’s stock worth $1,899,000 after buying an additional 2,661 shares in the last quarter.
Tech Data Corp. 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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