Shares of Tech Data Corporation (NASDAQ:TECD) have been assigned an average recommendation of “Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $112.33.

Several brokerages have issued reports on TECD. Stifel Nicolaus reduced their price target on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Friday. Citigroup Inc. upped their price target on shares of Tech Data Corporation from $100.00 to $115.00 and gave the company a “sell” rating in a report on Friday. Northcoast Research reaffirmed a “neutral” rating on shares of Tech Data Corporation in a report on Monday. Loop Capital began coverage on shares of Tech Data Corporation in a report on Thursday, August 24th. They issued a “buy” rating and a $130.00 price target on the stock. Finally, BidaskClub downgraded shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 11th.

In other Tech Data Corporation news, VP David R. Vetter sold 6,000 shares of the company’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $100.26, for a total value of $601,560.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alain Amsellem sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $104.63, for a total transaction of $104,630.00. Following the completion of the sale, the chief financial officer now directly owns 26,379 shares in the company, valued at approximately $2,760,034.77. The disclosure for this sale can be found here. Insiders sold 34,888 shares of company stock worth $3,519,704 in the last ninety days. Insiders own 1.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in TECD. Glen Harbor Capital Management LLC increased its position in shares of 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 valued at $120,000 after buying an additional 22 shares during the last quarter. Elkfork Partners LLC increased its position in shares of Tech Data Corporation by 1.8% in the first quarter. Elkfork Partners LLC now owns 1,624 shares of the company’s stock valued at $152,000 after buying an additional 28 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of 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 valued at $185,000 after buying an additional 34 shares during the last quarter. Balasa Dinverno & Foltz LLC increased its position in shares of Tech Data Corporation by 0.6% in the second quarter. Balasa Dinverno & Foltz LLC now owns 5,365 shares of the company’s stock valued at $542,000 after buying an additional 34 shares during the last quarter. Finally, Capital One National Association increased its position in shares of Tech Data Corporation by 0.3% in the second quarter. Capital One National Association now owns 13,690 shares of the company’s stock valued at $1,383,000 after buying an additional 47 shares during the last quarter.

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Shares of Tech Data Corporation (NASDAQ TECD) traded down 21.366% on Tuesday, reaching $86.725. 2,374,750 shares of the company were exchanged. The stock has a 50 day moving average of $104.68 and a 200-day moving average of $97.49. The company has a market capitalization of $3.31 billion, a P/E ratio of 16.183 and a beta of 0.79. Tech Data Corporation has a 52-week low of $67.67 and a 52-week high of $107.50.

Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings data on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by $0.32. The company had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a return on equity of 11.67% and a net margin of 0.69%. The firm’s quarterly revenue was up 39.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.42 EPS. On average, analysts predict that Tech Data Corporation will post $9.80 EPS for the current fiscal 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.

Analyst Recommendations for Tech Data Corporation (NASDAQ:TECD)

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