Insider Selling: Tech Data Corp (TECD) CFO Sells $501,700.00 in Stock

Tech Data Corp (NASDAQ:TECD) CFO Charles V. Dannewitz sold 5,000 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $100.34, for a total value of $501,700.00. The sale was disclosed in a document filed with the SEC, which is available through this link.

Shares of TECD stock opened at $101.94 on Friday. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.95 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 $108.29. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.86 and a current ratio of 1.24.

Tech Data (NASDAQ:TECD) last issued its earnings results on Thursday, March 7th. The company reported $4.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.52. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The firm had revenue of $10.47 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the business posted $3.50 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Tech Data Corp will post 11.72 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Enlightenment Research LLC acquired a new stake in shares of Tech Data during the 4th quarter valued at $25,000. Fort L.P. acquired a new stake in shares of Tech Data during the 4th quarter valued at $40,000. JOYN Advisors Inc. boosted its holdings in shares of Tech Data by 43.5% during the 4th quarter. JOYN Advisors Inc. now owns 511 shares of the company’s stock valued at $42,000 after acquiring an additional 155 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Tech Data during the 4th quarter valued at $48,000. Finally, AdvisorNet Financial Inc boosted its holdings in shares of Tech Data by 28.9% during the 4th quarter. AdvisorNet Financial Inc now owns 1,114 shares of the company’s stock valued at $91,000 after acquiring an additional 250 shares in the last quarter. 97.09% of the stock is currently owned by institutional investors.

TECD has been the topic of a number of analyst reports. TheStreet raised Tech Data from a “c+” rating to a “b-” rating in a research report on Thursday, December 13th. Needham & Company LLC raised their target price on Tech Data to $110.00 and gave the company a “buy” rating in a report on Friday, November 30th. BidaskClub raised Tech Data from a “hold” rating to a “buy” rating in a report on Tuesday, November 20th. Zacks Investment Research raised Tech Data from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a report on Monday, February 4th. Finally, ValuEngine raised Tech Data from a “sell” rating to a “hold” rating in a report on Friday, November 30th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $97.60.

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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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