SG Americas Securities LLC grew its holdings in Tech Data Corp (NASDAQ:TECD) by 124.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,543 shares of the company’s stock after purchasing an additional 9,741 shares during the period. SG Americas Securities LLC’s holdings in Tech Data were worth $1,256,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. LSV Asset Management increased its holdings in Tech Data by 5.7% during the 3rd quarter. LSV Asset Management now owns 1,773,117 shares of the company’s stock worth $126,901,000 after purchasing an additional 95,400 shares during the period. Piermont Capital Management Inc. purchased a new stake in Tech Data during the 3rd quarter worth about $2,627,000. Virginia Retirement Systems ET AL increased its holdings in Tech Data by 7.4% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 14,500 shares of the company’s stock worth $1,038,000 after purchasing an additional 1,000 shares during the period. American Century Companies Inc. increased its holdings in Tech Data by 21.0% during the 3rd quarter. American Century Companies Inc. now owns 284,270 shares of the company’s stock worth $20,345,000 after purchasing an additional 49,302 shares during the period. Finally, River Road Asset Management LLC purchased a new stake in Tech Data during the 3rd quarter worth about $32,431,000. 97.12% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have recently commented on TECD. Needham & Company LLC increased their price objective on Tech Data to $110.00 and gave the company a “buy” rating in a report on Friday, November 30th. ValuEngine upgraded Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 30th. Bank of America downgraded Tech Data from a “buy” rating to an “underperform” rating and set a $80.00 price objective on the stock. in a report on Friday, August 31st. Citigroup dropped their price objective on Tech Data from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, August 31st. Finally, BidaskClub upgraded Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $99.86.
TECD opened at $83.91 on Friday. Tech Data Corp has a one year low of $66.93 and a one year high of $108.62. The stock has a market capitalization of $3.29 billion, a PE ratio of 8.28, a price-to-earnings-growth ratio of 0.92 and a beta of 0.74. The company has a current ratio of 1.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.46.
Tech Data (NASDAQ:TECD) last released its quarterly earnings data on Thursday, November 29th. The company reported $3.02 EPS for the quarter, beating analysts’ consensus estimates of $2.17 by $0.85. Tech Data had a return on equity of 13.92% and a net margin of 0.59%. The business had revenue of $9.34 billion for the quarter, compared to the consensus estimate of $8.92 billion. During the same quarter in the prior year, the business posted $2.00 EPS. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, research analysts expect that Tech Data Corp will post 10.7 earnings per share for the current year.
Tech Data declared that its board has initiated a share repurchase program on Tuesday, October 2nd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Charles E. Adair sold 2,715 shares of the stock in a transaction dated Monday, December 3rd. The stock was sold at an average price of $90.72, for a total value of $246,304.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company’s stock.
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Tech Data Company Profile
Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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