Harry J. Harczak, Jr. Sells 2,200 Shares of Tech Data Corp (TECD) Stock
Tech Data Corp (NASDAQ:TECD) Director Harry J. Harczak, Jr. sold 2,200 shares of the company’s stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $91.72, for a total value of $201,784.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Tech Data Corp (NASDAQ:TECD) traded up 2.16% during trading on Thursday, reaching $93.14. The company had a trading volume of 512,308 shares. The stock has a 50 day moving average price of $92.00 and a 200 day moving average price of $86.24. Tech Data Corp has a 12 month low of $61.99 and a 12 month high of $96.38. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 16.90 and a beta of 0.90.
Tech Data Corp (NASDAQ:TECD) last announced its quarterly earnings results on Wednesday, March 8th. The company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.28. Tech Data Corp had a return on equity of 10.51% and a net margin of 0.81%. The company earned $7.43 billion during the quarter, compared to analysts’ expectations of $7.50 billion. During the same quarter in the previous year, the firm earned $2.29 earnings per share. The business’s quarterly revenue was down .7% compared to the same quarter last year. On average, equities research analysts predict that Tech Data Corp will post $8.92 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Tech Data Corp during the fourth quarter worth $40,749,000. Russell Investments Group Ltd. bought a new stake in shares of Tech Data Corp during the fourth quarter worth $40,448,000. Calamos Advisors LLC bought a new stake in shares of Tech Data Corp during the fourth quarter worth $14,998,000. Capital Growth Management LP bought a new stake in shares of Tech Data Corp during the third quarter worth $14,401,000. Finally, Perkins Investment Management LLC bought a new stake in shares of Tech Data Corp during the third quarter worth $13,239,000.
A number of research firms recently commented on TECD. Needham & Company LLC raised Tech Data Corp from a “hold” rating to a “buy” rating and set a $107.00 price objective on the stock in a research note on Thursday, March 9th. Zacks Investment Research raised Tech Data Corp from a “hold” rating to a “strong-buy” rating and set a $106.00 price objective on the stock in a research note on Tuesday, March 7th. Finally, Brean Capital reaffirmed a “buy” rating on shares of Tech Data Corp in a research note on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $99.43.
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.
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