Sawgrass Asset Management LLC Has $510,000 Position in Tech Data Corporation (TECD)
Sawgrass Asset Management LLC boosted its position in Tech Data Corporation (NASDAQ:TECD) by 33.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,045 shares of the company’s stock after purchasing an additional 1,265 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Tech Data Corporation were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Prudential Financial Inc. raised its stake in Tech Data Corporation by 30.2% in the 2nd quarter. Prudential Financial Inc. now owns 381,747 shares of the company’s stock valued at $38,557,000 after purchasing an additional 88,598 shares during the last quarter. Capital One National Association raised its stake in Tech Data Corporation by 0.3% in the 2nd quarter. Capital One National Association now owns 13,690 shares of the company’s stock valued at $1,383,000 after purchasing an additional 47 shares during the last quarter. Geneva Advisors LLC acquired a new position in Tech Data Corporation in the 2nd quarter valued at about $606,000. JPMorgan Chase & Co. raised its stake in Tech Data Corporation by 37.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock valued at $79,316,000 after purchasing an additional 214,058 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in Tech Data Corporation in the 2nd quarter valued at about $384,000.
TECD has been the subject of several analyst reports. Northcoast Research reissued a “neutral” rating on shares of Tech Data Corporation in a research note on Monday, August 28th. Stifel Nicolaus cut their target price on shares of Tech Data Corporation from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, September 1st. Loop Capital initiated coverage on shares of Tech Data Corporation in a research note on Thursday, August 24th. They issued a “buy” rating and a $130.00 target price for the company. Bank of America Corporation reissued a “buy” rating and issued a $110.00 target price on shares of Tech Data Corporation in a research note on Thursday, June 1st. Finally, Zacks Investment Research downgraded shares of Tech Data Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $107.33.
In other Tech Data Corporation news, CFO Alain Amsellem sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 11th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.60% of the company’s stock.
Tech Data Corporation (NASDAQ:TECD) opened at 86.90 on Friday. Tech Data Corporation has a 1-year low of $68.41 and a 1-year high of $111.10. The stock’s 50 day moving average is $97.87 and its 200-day moving average is $97.33. The firm has a market cap of $3.32 billion, a P/E ratio of 16.49 and a beta of 0.79.
Tech Data Corporation (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, August 31st. The company reported $1.74 EPS for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business had revenue of $8.88 billion for the quarter, compared to analyst estimates of $8.74 billion. During the same quarter in the previous year, the business posted $1.42 earnings per share. The company’s revenue was up 39.8% compared to the same quarter last year. Analysts forecast that Tech Data Corporation will post $8.86 EPS for the current year.
Tech Data Corporation 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.
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