Hennessy Advisors Inc. Cuts Stake in Tech Data Corp (NASDAQ:TECD)

Hennessy Advisors Inc. lowered its position in shares of Tech Data Corp (NASDAQ:TECD) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,009 shares of the company’s stock after selling 1,150 shares during the quarter. Hennessy Advisors Inc. owned 0.07% of Tech Data worth $3,735,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. LPL Financial LLC grew its stake in shares of Tech Data by 59.6% during the 2nd quarter. LPL Financial LLC now owns 4,426 shares of the company’s stock worth $463,000 after purchasing an additional 1,652 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Tech Data during the 2nd quarter worth $2,557,000. Tower Research Capital LLC TRC acquired a new position in shares of Tech Data during the 2nd quarter worth $58,000. NumerixS Investment Technologies Inc acquired a new position in shares of Tech Data during the 2nd quarter worth $110,000. Finally, Vanguard Group Inc. grew its stake 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 worth $403,058,000 after purchasing an additional 99,380 shares during the period.

A number of equities analysts have recently weighed in on the stock. Northcoast Research cut shares of Tech Data from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Loop Capital upped their price target on shares of Tech Data to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. ValuEngine cut shares of Tech Data from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, BidaskClub cut shares of Tech Data from a “buy” rating to a “hold” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $113.00.

Shares of NASDAQ TECD opened at $144.21 on Wednesday. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of 12.67 and a beta of 1.19. Tech Data Corp has a 52 week low of $80.20 and a 52 week high of $145.25. The company’s 50-day moving average price is $142.90 and its 200 day moving average price is $115.30. The company has a current ratio of 1.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.44.

Tech Data (NASDAQ:TECD) last issued its quarterly earnings data on Tuesday, November 26th. The company reported $3.02 EPS for the quarter, beating the Zacks’ consensus estimate of $2.99 by $0.03. The firm had revenue of $9.12 billion for the quarter, compared to analysts’ expectations of $9.37 billion. Tech Data had a net margin of 0.92% and a return on equity of 15.52%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.02 EPS. As a group, research analysts expect that Tech Data Corp will post 12.53 earnings per share for the current year.

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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Institutional Ownership by Quarter for Tech Data (NASDAQ:TECD)

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