Wells Fargo & Company MN reduced its holdings in shares of Tech Data Corp (NASDAQ:TECD) by 60.1% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 53,658 shares of the company’s stock after selling 80,798 shares during the period. Wells Fargo & Company MN’s holdings in Tech Data were worth $7,021,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TECD. Citizens Financial Group Inc RI increased its holdings in Tech Data by 196.1% during the 1st quarter. Citizens Financial Group Inc RI now owns 228 shares of the company’s stock worth $30,000 after purchasing an additional 151 shares during the period. Pinz Capital Management LP acquired a new position in shares of Tech Data during the first quarter worth about $33,000. Cutler Group LP purchased a new stake in shares of Tech Data during the first quarter worth approximately $65,000. US Bancorp DE raised its holdings in Tech Data by 22.7% in the first quarter. US Bancorp DE now owns 529 shares of the company’s stock valued at $69,000 after acquiring an additional 98 shares in the last quarter. Finally, Mint Tower Capital Management B.V. acquired a new stake in Tech Data in the first quarter valued at approximately $79,000. Institutional investors own 90.97% of the company’s stock.
TECD stock opened at $144.90 on Wednesday. The stock has a market cap of $5.16 billion, a P/E ratio of 14.25 and a beta of 0.91. The company has a current ratio of 1.27, a quick ratio of 0.86 and a debt-to-equity ratio of 0.43. Tech Data Corp has a twelve month low of $80.20 and a twelve month high of $151.47. The company’s 50 day moving average is $138.24 and its two-hundred day moving average is $139.13.
Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, May 28th. The company reported $2.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.38 by $0.84. Tech Data had a net margin of 1.00% and a return on equity of 15.32%. The firm had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $7.70 billion. During the same period last year, the firm posted $2.04 EPS. The company’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts predict that Tech Data Corp will post 11.39 earnings per share for the current year.
A number of equities research analysts have commented on TECD shares. Northcoast Research downgraded shares of Tech Data from a “buy” rating to a “neutral” rating in a research report on Friday, June 26th. ValuEngine downgraded shares of Tech Data from a “hold” rating to a “sell” rating in a research note on Friday, May 1st. Finally, BidaskClub upgraded Tech Data from a “sell” rating to a “hold” rating in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $122.50.
Tech Data Company Profile
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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