Mackay Shields LLC increased its position in shares of Tech Data Corp (NASDAQ:TECD) by 27.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,641 shares of the company’s stock after acquiring an additional 9,800 shares during the quarter. Mackay Shields LLC owned approximately 0.13% of Tech Data worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Tech Data by 2.6% during the 2nd quarter. Vanguard Group Inc. now owns 3,853,331 shares of the company’s stock valued at $403,058,000 after acquiring an additional 99,380 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Tech Data by 31.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,386,528 shares of the company’s stock valued at $142,161,000 after acquiring an additional 334,938 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Tech Data by 9.3% during the 2nd quarter. Prudential Financial Inc. now owns 715,754 shares of the company’s stock valued at $74,867,000 after acquiring an additional 61,074 shares during the last quarter. Northern Trust Corp raised its holdings in Tech Data by 0.5% in the 2nd quarter. Northern Trust Corp now owns 707,388 shares of the company’s stock valued at $73,993,000 after buying an additional 3,289 shares during the period. Finally, Invesco Ltd. raised its holdings in Tech Data by 87.2% in the 2nd quarter. Invesco Ltd. now owns 622,901 shares of the company’s stock valued at $65,155,000 after buying an additional 290,160 shares during the period. 97.45% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Robert M. Dutkowsky sold 10,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $105.04, for a total value of $1,050,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Michael Rabinovitch sold 349 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $104.85, for a total value of $36,592.65. The disclosure for this sale can be found here. Insiders sold 12,899 shares of company stock valued at $1,352,943 over the last three months. Corporate insiders own 1.10% of the company’s stock.
TECD traded down $0.10 on Friday, hitting $124.50. The company had a trading volume of 229,300 shares, compared to its average volume of 348,643. The firm has a market cap of $4.59 billion, a P/E ratio of 10.94, a PEG ratio of 2.66 and a beta of 1.15. Tech Data Corp has a 1 year low of $70.41 and a 1 year high of $129.06. The company’s fifty day moving average price is $113.99 and its 200 day moving average price is $102.15. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, August 29th. The company reported $2.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.36. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.71 billion. Tech Data had a return on equity of 15.96% and a net margin of 0.98%. The company’s revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.01 earnings per share. On average, analysts predict that Tech Data Corp will post 12.46 earnings per share for the current year.
Several analysts recently issued reports on the stock. Northcoast Research set a $115.00 price objective on shares of Tech Data and gave the company a “buy” rating in a report on Friday, August 30th. Loop Capital boosted their price objective on shares of Tech Data to $150.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Citigroup set a $100.00 price objective on shares of Tech Data and gave the company a “hold” rating in a report on Friday, August 30th. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 15th. Finally, Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price objective on the stock in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $112.50.
About Tech Data
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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