IndexIQ Advisors LLC increased its stake in Tech Data Corporation (NASDAQ:TECD) by 83.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,231 shares of the company’s stock after purchasing an additional 4,188 shares during the period. IndexIQ Advisors LLC’s holdings in Tech Data Corporation were worth $820,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Palisade Capital Management LLC NJ bought a new stake in shares of Tech Data Corporation in the 3rd quarter worth approximately $888,000. Prudential Financial Inc. lifted its holdings in shares of Tech Data Corporation by 30.2% in the 2nd quarter. Prudential Financial Inc. now owns 381,747 shares of the company’s stock worth $38,557,000 after purchasing an additional 88,598 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Tech Data Corporation by 37.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after purchasing an additional 214,058 shares during the last quarter. Geneva Advisors LLC bought a new stake in shares of Tech Data Corporation in the 2nd quarter worth approximately $606,000. Finally, State of Tennessee Treasury Department increased its position in Tech Data Corporation by 40.8% in the 2nd quarter. State of Tennessee Treasury Department now owns 98,593 shares of the company’s stock valued at $9,958,000 after acquiring an additional 28,593 shares during the period.
Several analysts recently commented on TECD shares. Northcoast Research upgraded Tech Data Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research cut Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Citigroup Inc. restated a “hold” rating and issued a $100.00 target price on shares of Tech Data Corporation in a research report on Friday, September 1st. Stifel Nicolaus lowered their target price on Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, September 1st. Finally, Loop Capital restated a “buy” rating and issued a $120.00 target price (down from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Tech Data Corporation has an average rating of “Buy” and an average target price of $109.33.
Tech Data Corporation (NASDAQ TECD) opened at $90.66 on Monday. Tech Data Corporation has a 1 year low of $74.07 and a 1 year high of $111.10. The stock has a market capitalization of $3,458.60, a price-to-earnings ratio of 12.09, a PEG ratio of 0.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.34.
Tech Data Corporation (NASDAQ:TECD) last issued its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm had revenue of $8.88 billion for the quarter, compared to analyst estimates of $8.74 billion. During the same quarter last year, the business posted $1.42 earnings per share. The firm’s revenue for the quarter was up 39.8% compared to the same quarter last year. sell-side analysts predict that Tech Data Corporation will post 9.08 earnings per share for the current 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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