Thrivent Financial for Lutherans increased its position in shares of Tech Data Corp (NASDAQ:TECD) by 15.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,168 shares of the company’s stock after purchasing an additional 1,227 shares during the period. Thrivent Financial for Lutherans’ holdings in Tech Data were worth $656,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. United Services Automobile Association increased its holdings in Tech Data by 1.3% in the 2nd quarter. United Services Automobile Association now owns 66,572 shares of the company’s stock valued at $5,467,000 after acquiring an additional 847 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Tech Data by 4.4% in the 2nd quarter. Northern Trust Corp now owns 687,706 shares of the company’s stock worth $56,474,000 after buying an additional 28,976 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Tech Data by 3.8% in the 3rd quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after buying an additional 159,706 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Tech Data by 1,397.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 62,464 shares of the company’s stock worth $4,471,000 after buying an additional 58,294 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Tech Data by 21.0% in the 3rd quarter. American Century Companies Inc. now owns 284,270 shares of the company’s stock worth $20,345,000 after buying an additional 49,302 shares during the last quarter. Hedge funds and other institutional investors own 99.80% of the company’s stock.
In related news, VP John A. Tonnison sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $87.04, for a total transaction of $435,200.00. Following the completion of the transaction, the vice president now owns 30,423 shares in the company, valued at approximately $2,648,017.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles E. Adair sold 2,715 shares of the company’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $90.72, for a total transaction of $246,304.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
A number of equities analysts recently commented on the stock. TheStreet cut shares of Tech Data from a “b-” rating to a “c+” rating in a research note on Monday, October 1st. BidaskClub raised shares of Tech Data from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. ValuEngine raised shares of Tech Data from a “strong sell” rating to a “sell” rating in a research note on Friday, November 16th. Zacks Investment Research reissued a “hold” rating and issued a $82.00 price objective on shares of Tech Data in a research report on Friday, November 16th. Finally, Needham & Company LLC boosted their price objective on shares of Tech Data to $110.00 and gave the company a “buy” rating in a research report on Friday, November 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Tech Data currently has an average rating of “Hold” and an average price target of $99.86.
Shares of TECD opened at $89.37 on Friday. Tech Data Corp has a fifty-two week low of $66.93 and a fifty-two week high of $108.62. The company has a market capitalization of $3.29 billion, a PE ratio of 9.81, a price-to-earnings-growth ratio of 0.93 and a beta of 0.80. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.24 and a quick ratio of 0.85.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, November 29th. The company reported $3.02 EPS for the quarter, topping the consensus estimate of $2.17 by $0.85. The firm had revenue of $9.34 billion during the quarter, compared to analyst estimates of $8.92 billion. Tech Data had a net margin of 0.59% and a return on equity of 13.92%. Tech Data’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.00 EPS. As a group, equities analysts expect that Tech Data Corp will post 10.94 EPS for the current year.
Tech Data announced that its board has approved a stock repurchase plan on Tuesday, October 2nd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
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About Tech Data
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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