Los Angeles Capital Management & Equity Research Inc. raised its holdings in Tech Data Corp (NASDAQ:TECD) by 5.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,026 shares of the company’s stock after buying an additional 5,275 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned about 0.30% of Tech Data worth $11,370,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Tech Data by 2.1% during the 4th quarter. BlackRock Inc. now owns 4,472,444 shares of the company’s stock worth $365,890,000 after acquiring an additional 93,303 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of Tech Data by 2.4% during the 3rd quarter. Vanguard Group Inc now owns 3,473,612 shares of the company’s stock worth $248,607,000 after acquiring an additional 81,529 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Tech Data by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 3,473,612 shares of the company’s stock worth $248,607,000 after acquiring an additional 81,529 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Tech Data by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,200,146 shares of the company’s stock worth $261,803,000 after acquiring an additional 34,598 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Tech Data by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,021,605 shares of the company’s stock worth $73,116,000 after acquiring an additional 16,863 shares in the last quarter. Institutional investors own 98.16% of the company’s stock.
Several brokerages have recently commented on TECD. BidaskClub lowered Tech Data from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research downgraded Tech Data from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus downgraded Tech Data from a “buy” rating to a “hold” rating and set a $105.00 price objective for the company. in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $98.83.
Shares of Tech Data stock traded down $2.39 during trading on Wednesday, hitting $96.92. 204,700 shares of the company were exchanged, compared to its average volume of 359,743. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.86. The company has a market capitalization of $3.65 billion, a P/E ratio of 8.52, a P/E/G ratio of 3.85 and a beta of 0.96. Tech Data Corp has a fifty-two week low of $66.93 and a fifty-two week high of $111.08.
Tech Data (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, March 7th. The company reported $4.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.52. The company had revenue of $10.47 billion during the quarter, compared to the consensus estimate of $10.63 billion. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. Tech Data’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $3.50 EPS. As a group, research analysts expect that Tech Data Corp will post 11.77 EPS for the current fiscal year.
In other Tech Data news, CAO Michael Rabinovitch sold 1,133 shares of the business’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $99.06, for a total value of $112,234.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles V. Dannewitz sold 5,000 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $100.34, for a total value of $501,700.00. The disclosure for this sale can be found here. Insiders sold a total of 61,141 shares of company stock valued at $6,446,465 over the last quarter. 1.10% of the stock is currently owned by insiders.
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Tech Data 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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