Tech Data Corporation (TECD) Stake Increased by Aberdeen Asset Management PLC UK

Aberdeen Asset Management PLC UK lifted its holdings in Tech Data Corporation (NASDAQ:TECD) by 94.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,113 shares of the company’s stock after buying an additional 9,266 shares during the period. Aberdeen Asset Management PLC UK owned about 0.05% of Tech Data Corporation worth $1,930,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TECD. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Tech Data Corporation by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after buying an additional 195 shares during the period. Elkfork Partners LLC boosted its position in shares of Tech Data Corporation by 1.8% in the first quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock worth $152,000 after buying an additional 28 shares during the period. Invictus RG acquired a new stake in shares of Tech Data Corporation in the first quarter worth $156,000. Meadow Creek Investment Management LLC boosted its position in shares of Tech Data Corporation by 1.8% in the first quarter. Meadow Creek Investment Management LLC now owns 1,972 shares of the company’s stock worth $185,000 after buying an additional 34 shares during the period. Finally, Engine Capital Management LLC boosted its position in shares of Tech Data Corporation by 1,083.4% in the first quarter. Engine Capital Management LLC now owns 2,000 shares of the company’s stock worth $188,000 after buying an additional 1,831 shares during the period.

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In related news, CFO Alain Amsellem sold 1,648 shares of the company’s stock in a transaction on Friday, July 14th. The shares were sold at an average price of $106.31, for a total value of $175,198.88. Following the completion of the transaction, the chief financial officer now directly owns 26,479 shares of the company’s stock, valued at approximately $2,814,982.49. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Robert M. Dutkowsky sold 20,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $100.08, for a total transaction of $2,001,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,648 shares of company stock valued at $2,281,429. Company insiders own 1.60% of the company’s stock.

Several brokerages have recently commented on TECD. Citigroup Inc. reaffirmed a “hold” rating and issued a $100.00 target price on shares of Tech Data Corporation in a research report on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price (down previously from $107.00) on shares of Tech Data Corporation in a research report on Monday. Zacks Investment Research raised Tech Data Corporation from a “hold” rating to a “buy” rating and set a $104.00 target price for the company in a research report on Thursday, May 25th. Loop Capital reaffirmed a “buy” rating and issued a $120.00 target price (down previously from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Finally, BidaskClub cut Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $106.38.

Shares of Tech Data Corporation (TECD) opened at 87.52 on Tuesday. The stock has a market capitalization of $3.34 billion, a price-to-earnings ratio of 16.61 and a beta of 0.79. The company’s 50 day moving average price is $98.28 and its 200 day moving average price is $97.36. Tech Data Corporation has a one year low of $68.41 and a one year high of $111.10.

Tech Data Corporation (NASDAQ:TECD) last announced its earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The company had revenue of $8.88 billion during the quarter, compared to analyst estimates of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. Tech Data Corporation’s revenue for the quarter was up 39.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.42 earnings per share. On average, analysts expect that Tech Data Corporation will post $8.86 earnings per share for the current fiscal year.

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

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