PEAK6 Investments L.P. raised its stake in Tech Data Corp (NASDAQ:TECD) by 105.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,397 shares of the company’s stock after acquiring an additional 8,940 shares during the quarter. PEAK6 Investments L.P.’s holdings in Tech Data were worth $1,704,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also made changes to their positions in TECD. Alyeska Investment Group L.P. purchased a new stake in shares of Tech Data during the 3rd quarter valued at approximately $76,672,000. Janus Henderson Group PLC lifted its stake in shares of Tech Data by 55.3% during the 3rd quarter. Janus Henderson Group PLC now owns 553,016 shares of the company’s stock valued at $49,135,000 after buying an additional 196,834 shares in the last quarter. Schroder Investment Management Group lifted its stake in shares of Tech Data by 8,012.5% during the 4th quarter. Schroder Investment Management Group now owns 194,700 shares of the company’s stock valued at $19,075,000 after buying an additional 192,300 shares in the last quarter. Advisory Research Inc. purchased a new stake in shares of Tech Data during the 4th quarter valued at approximately $13,940,000. Finally, Wells Fargo & Company MN lifted its stake in shares of Tech Data by 163.1% during the 3rd quarter. Wells Fargo & Company MN now owns 215,384 shares of the company’s stock valued at $19,137,000 after buying an additional 133,530 shares in the last quarter. Institutional investors own 96.14% of the company’s stock.
Shares of Tech Data Corp (TECD) opened at $87.68 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.88 and a current ratio of 1.26. The firm has a market cap of $3,384.79, a P/E ratio of 9.74, a P/E/G ratio of 1.10 and a beta of 0.64. Tech Data Corp has a twelve month low of $81.42 and a twelve month high of $111.10.
A number of brokerages recently commented on TECD. ValuEngine upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Wednesday, November 29th. BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Saturday, March 3rd. Raymond James Financial restated a “hold” rating on shares of Tech Data in a research note on Tuesday, November 28th. Citigroup dropped their price target 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. Finally, Northcoast Research set a $127.00 target price on shares of Tech Data and gave the stock a “buy” rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Tech Data currently has an average rating of “Buy” and a consensus target price of $110.29.
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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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