Brandywine Global Investment Management LLC lessened its stake in shares of Tech Data Corp (NASDAQ:TECD) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 105,936 shares of the company’s stock after selling 14,146 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.28% of Tech Data worth $10,379,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of TECD. Alyeska Investment Group L.P. bought a new stake in shares of Tech Data during the third quarter worth $76,672,000. Janus Henderson Group PLC grew its stake in shares of Tech Data by 55.3% during the third quarter. Janus Henderson Group PLC now owns 553,016 shares of the company’s stock worth $49,135,000 after buying an additional 196,834 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Tech Data by 8,012.5% during the fourth quarter. Schroder Investment Management Group now owns 194,700 shares of the company’s stock worth $19,075,000 after buying an additional 192,300 shares during the last quarter. Advisory Research Inc. bought a new stake in shares of Tech Data during the fourth quarter worth $13,940,000. Finally, Wells Fargo & Company MN grew its stake in shares of Tech Data by 163.1% during the third quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock worth $19,137,000 after buying an additional 133,530 shares during the last quarter. 96.14% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have weighed in on the stock. Citigroup decreased their target price on shares of Tech Data from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, March 9th. Pivotal Research set a $105.00 price objective on shares of Tech Data and gave the stock a “buy” rating in a research note on Thursday, March 8th. BidaskClub cut shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Needham & Company LLC boosted their price objective on shares of Tech Data from $102.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, November 28th. Finally, ValuEngine raised shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $110.29.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, March 8th. The company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.53 by ($0.03). The business had revenue of $11.09 billion during the quarter, compared to the consensus estimate of $10.57 billion. Tech Data had a return on equity of 12.83% and a net margin of 0.32%. The business’s revenue for the quarter was up 49.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.45 EPS. analysts forecast that Tech Data Corp will post 10.75 EPS for the current year.
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Tech Data 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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