Hennessy Advisors Inc. reduced its stake in Tech Data Corp. (NASDAQ:TECD) by 12.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 494,900 shares of the company’s stock after selling 68,500 shares during the period. Tech Data Corp. accounts for approximately 1.2% of Hennessy Advisors Inc.’s holdings, making the stock its 19th largest position. Hennessy Advisors Inc. owned 1.41% of Tech Data Corp. worth $41,923,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Investment Management Company LLC boosted its position in shares of Tech Data Corp. by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,077 shares of the company’s stock valued at $437,000 after buying an additional 27 shares during the period. Sterling Capital Management LLC boosted its position in shares of Tech Data Corp. by 0.6% in the second quarter. Sterling Capital Management LLC now owns 14,095 shares of the company’s stock valued at $1,013,000 after buying an additional 80 shares during the period. Creative Planning boosted its position in shares of Tech Data Corp. by 4.7% in the third quarter. Creative Planning now owns 1,897 shares of the company’s stock valued at $161,000 after buying an additional 86 shares during the period. Weaver C. Barksdale & Associates Inc. boosted its position in shares of Tech Data Corp. by 7.2% in the second quarter. Weaver C. Barksdale & Associates Inc. now owns 1,473 shares of the company’s stock valued at $106,000 after buying an additional 99 shares during the period. Finally, Anchor Capital Advisors LLC boosted its position in shares of Tech Data Corp. by 0.9% in the second quarter. Anchor Capital Advisors LLC now owns 11,701 shares of the company’s stock valued at $841,000 after buying an additional 99 shares during the period.

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

Shares of Tech Data Corp. (NASDAQ:TECD) traded down 0.67% during mid-day trading on Monday, reaching $86.06. 294,855 shares of the company traded hands. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 13.97 and a beta of 0.87. The firm has a 50-day moving average price of $80.21 and a 200 day moving average price of $77.40. Tech Data Corp. has a 52 week low of $57.99 and a 52 week high of $89.36.

Tech Data Corp. (NASDAQ:TECD) last posted its quarterly earnings results on Tuesday, November 22nd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.18. Tech Data Corp. had a net margin of 0.81% and a return on equity of 10.51%. The company earned $6.49 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period last year, the firm posted $1.28 EPS. Tech Data Corp.’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, analysts anticipate that Tech Data Corp. will post $5.95 earnings per share for the current year.

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Several research analysts have issued reports on TECD shares. Northcoast Research started coverage on shares of Tech Data Corp. in a report on Wednesday, August 10th. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Tech Data Corp. from a “hold” rating to a “sell” rating in a report on Friday, August 26th. Needham & Company LLC reaffirmed a “hold” rating on shares of Tech Data Corp. in a report on Friday, August 26th. Brean Capital reaffirmed a “buy” rating and issued a $82.00 target price on shares of Tech Data Corp. in a report on Friday, August 26th. Finally, Bank of America Corp. raised shares of Tech Data Corp. from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $67.00 to $80.00 in a report on Tuesday, August 30th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $94.67.

About Tech Data Corp.

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.

5 Day Chart for NASDAQ:TECD

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