Texas Permanent School Fund Acquires 288 Shares of Tech Data Corporation (TECD)
Texas Permanent School Fund boosted its position in Tech Data Corporation (NASDAQ:TECD) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,329 shares of the company’s stock after buying an additional 288 shares during the period. Texas Permanent School Fund owned 0.07% of Tech Data Corporation worth $2,558,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC increased its position in Tech Data Corporation by 1.8% in the first quarter. Glen Harbor Capital Management LLC now owns 1,276 shares of the company’s stock worth $120,000 after buying an additional 22 shares during the last quarter. Elkfork Partners LLC increased its position in 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 in the last quarter. Invictus RG bought a new position in Tech Data Corporation during the first quarter worth $156,000. Meadow Creek Investment Management LLC increased its position in 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 in the last quarter. Finally, Engine Capital Management LLC increased its position in 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 in the last quarter. Institutional investors and hedge funds own 96.07% of the company’s stock.
Shares of Tech Data Corporation (NASDAQ TECD) traded down 1.51% on Friday, hitting $102.32. The stock had a trading volume of 291,846 shares. The company has a 50-day moving average of $104.03 and a 200 day moving average of $96.17. Tech Data Corporation has a 52 week low of $67.67 and a 52 week high of $107.50. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of 19.09 and a beta of 0.79.
Tech Data Corporation (NASDAQ:TECD) last posted its quarterly earnings data on Thursday, June 1st. The company reported $1.87 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.53. Tech Data Corporation had a net margin of 0.69% and a return on equity of 11.67%. The company had revenue of $7.66 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was up 28.5% on a year-over-year basis. On average, equities research analysts predict that Tech Data Corporation will post $9.76 EPS for the current year.
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A number of research firms have weighed in on TECD. Zacks Investment Research upgraded Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub downgraded Tech Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Bank of America Corporation restated a “buy” rating and issued a $110.00 price target on shares of Tech Data Corporation in a research note on Thursday, June 1st. Finally, Citigroup Inc. upgraded Tech Data Corporation from a “sell” rating to a “neutral” rating and set a $115.00 price target for the company in a research note on Friday, June 2nd. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Tech Data Corporation currently has a consensus rating of “Buy” and an average target price of $105.57.
In other Tech Data Corporation news, CEO Robert M. Dutkowsky sold 20,000 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $100.08, for a total value of $2,001,600.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David R. Vetter sold 6,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $100.26, for a total transaction of $601,560.00. The disclosure for this sale can be found here. Insiders sold a total of 34,888 shares of company stock worth $3,519,704 over the last three months. 1.60% of the stock is currently owned by corporate insiders.
About Tech Data Corporation
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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