Tech Data Corporation (TECD) Stake Increased by Prudential Financial Inc.

Prudential Financial Inc. boosted its position in shares of Tech Data Corporation (NASDAQ:TECD) by 31.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 293,149 shares of the company’s stock after buying an additional 69,753 shares during the period. Prudential Financial Inc. owned approximately 0.77% of Tech Data Corporation worth $27,526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FMR LLC raised its position in shares of Tech Data Corporation by 2.9% in the fourth quarter. FMR LLC now owns 5,163,168 shares of the company’s stock worth $437,217,000 after buying an additional 143,225 shares in the last quarter. State Street Corp raised its position in shares of Tech Data Corporation by 0.4% in the fourth quarter. State Street Corp now owns 1,222,451 shares of the company’s stock worth $103,514,000 after buying an additional 5,129 shares in the last quarter. Norges Bank purchased a new position in shares of Tech Data Corporation during the fourth quarter worth $40,749,000. Russell Investments Group Ltd. purchased a new position in shares of Tech Data Corporation during the fourth quarter worth $40,448,000. Finally, Parametric Portfolio Associates LLC raised its position in shares of Tech Data Corporation by 3.0% in the first quarter. Parametric Portfolio Associates LLC now owns 230,372 shares of the company’s stock worth $21,632,000 after buying an additional 6,698 shares in the last quarter. 93.56% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Tech Data Corporation (NASDAQ TECD) traded down 1.31% during trading on Friday, reaching $96.33. The company’s stock had a trading volume of 512,654 shares. Tech Data Corporation has a 52 week low of $67.67 and a 52 week high of $105.34. The company has a 50 day moving average price of $96.84 and a 200 day moving average price of $90.87. The firm has a market capitalization of $3.67 billion, a P/E ratio of 17.98 and a beta of 0.78.

Tech Data Corporation (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, June 1st. The company reported $1.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.53. The firm had revenue of $7.66 billion for the quarter, compared to analysts’ expectations of $7.31 billion. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. The firm’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, equities research analysts expect that Tech Data Corporation will post $9.76 EPS for the current fiscal year.

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A number of research analysts have recently weighed in on TECD shares. Zacks Investment Research raised Tech Data Corporation from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective on the stock in a report on Tuesday, March 7th. Bank of America Corporation reaffirmed a “buy” rating and set a $110.00 target price on shares of Tech Data Corporation in a report on Thursday, June 1st. Citigroup Inc. raised Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 target price on the stock in a report on Friday, June 2nd. BidaskClub lowered Tech Data Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday. Finally, Needham & Company LLC raised Tech Data Corporation from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a report on Thursday, March 9th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $105.57.

In other Tech Data Corporation news, SVP Jeffrey Louis Taylor sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 23rd. The stock was sold at an average price of $91.23, for a total transaction of $91,230.00. Following the transaction, the senior vice president now owns 7,563 shares in the company, valued at approximately $689,972.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Harry J. Harczak, Jr. sold 2,200 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The stock was sold at an average price of $91.72, for a total value of $201,784.00. The disclosure for this sale can be found here. Insiders sold a total of 16,024 shares of company stock worth $1,579,554 in the last 90 days. 1.60% of the stock is currently owned by insiders.

Tech Data Corporation Company Profile

Tech Data Corporation is a wholesale distributor of technology products. The Company serves as a link in the technology supply chain by bringing products from the technology vendors to market, as well as providing its customers with logistics capabilities and services. It operates through the segment of distributing technology products, logistics management and other value-added services.

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