Tech Data Corporation (NASDAQ:TECD) – Analysts at Northcoast Research reduced their Q3 2018 earnings estimates for shares of Tech Data Corporation in a research note issued to investors on Tuesday. Northcoast Research analyst K. Housum now forecasts that the company will earn $1.95 per share for the quarter, down from their prior estimate of $2.36. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for Tech Data Corporation’s Q4 2018 earnings at $3.47 EPS, FY2018 earnings at $9.05 EPS and FY2019 earnings at $10.47 EPS.

Tech Data Corporation (NASDAQ:TECD) last issued its earnings results on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by $0.32. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter in the previous year, the company earned $1.42 earnings per share. The firm’s revenue was up 39.8% on a year-over-year basis.

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Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Monday. Loop Capital reiterated a “buy” rating and set a $120.00 price target (down previously from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Bank of America Corporation reiterated a “buy” rating and set a $110.00 price target on shares of Tech Data Corporation in a research report on Thursday, June 1st. Citigroup Inc. reiterated a “hold” rating and set a $100.00 price target on shares of Tech Data Corporation in a research report on Friday, September 1st. Finally, Stifel Nicolaus reduced their price target on Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, September 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $107.25.

Shares of Tech Data Corporation (NASDAQ:TECD) traded down 1.82% on Thursday, reaching $81.65. 357,974 shares of the company’s stock traded hands. The firm has a market capitalization of $3.11 billion, a P/E ratio of 15.24 and a beta of 0.79. Tech Data Corporation has a 52 week low of $67.67 and a 52 week high of $111.10. The firm’s 50 day moving average is $102.86 and its 200 day moving average is $97.61.

In other news, VP David R. Vetter sold 6,000 shares of the business’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $100.26, for a total value of $601,560.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction on Friday, July 14th. The stock was sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the sale, the chief financial officer now directly owns 26,479 shares in the company, valued at approximately $2,814,982.49. The disclosure for this sale can be found here. Insiders have sold a total of 30,088 shares of company stock valued at $3,025,304 in the last quarter. 1.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in shares of Tech Data Corporation by 1.8% in the 1st quarter. Glen Harbor Capital Management LLC now owns 1,276 shares of the company’s stock worth $120,000 after buying an additional 22 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tech Data Corporation by 15.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after buying an additional 195 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Tech Data Corporation by 1.8% in the 1st quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock worth $152,000 after buying an additional 28 shares in the last quarter. Invictus RG bought a new stake in shares of Tech Data Corporation in the 1st quarter worth $156,000. Finally, Meadow Creek Investment Management LLC raised its stake in shares of Tech Data Corporation by 1.8% in the 1st quarter. Meadow Creek Investment Management LLC now owns 1,972 shares of the company’s stock worth $185,000 after buying an additional 34 shares in the last quarter.

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.

Earnings History and Estimates for Tech Data Corporation (NASDAQ:TECD)

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