Tech Data Corporation (NASDAQ:TECD) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report released on Monday.

Several other equities research analysts have also issued reports on TECD. Zacks Investment Research raised Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target (down previously from $107.00) on shares of Tech Data Corporation in a research note on Monday, September 18th. Loop Capital began coverage on Tech Data Corporation in a research note on Thursday, August 24th. They set a “buy” rating and a $130.00 price target for the company. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 price target on shares of Tech Data Corporation in a research note on Thursday, June 1st. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $107.33.

Shares of Tech Data Corporation (NASDAQ:TECD) traded up 0.63% during mid-day trading on Monday, hitting $86.90. The company had a trading volume of 400,600 shares. Tech Data Corporation has a one year low of $74.07 and a one year high of $111.10. The company has a market capitalization of $3.32 billion, a PE ratio of 16.49 and a beta of 0.79. The company’s 50-day moving average is $97.87 and its 200 day moving average is $97.33.

Tech Data Corporation (NASDAQ:TECD) last issued its quarterly 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 firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.74 billion. During the same period last year, the firm earned $1.42 EPS. The company’s revenue for the quarter was up 39.8% on a year-over-year basis. On average, equities research analysts forecast that Tech Data Corporation will post $8.86 EPS for the current fiscal year.

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In other news, CFO Alain Amsellem sold 1,648 shares of the business’s stock in a transaction dated 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 owns 26,479 shares of the company’s stock, valued at approximately $2,814,982.49. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TECD. Bank of Montreal Can lifted its stake in shares of Tech Data Corporation by 1.6% in the 1st quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock valued at $286,000 after acquiring an additional 48 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of Tech Data Corporation by 1.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 32,433 shares of the company’s stock valued at $3,043,000 after acquiring an additional 435 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Tech Data Corporation by 2.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 11,510 shares of the company’s stock valued at $1,081,000 after acquiring an additional 280 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Tech Data Corporation by 9.1% in the 1st quarter. First Trust Advisors LP now owns 39,582 shares of the company’s stock valued at $3,717,000 after acquiring an additional 3,291 shares during the last quarter. Finally, Elkfork Partners LLC lifted 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 valued at $152,000 after acquiring an additional 28 shares during 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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