Riverhead Capital Management LLC raised its holdings in Tech Data Corporation (NASDAQ:TECD) by 78.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,497 shares of the company’s stock after buying an additional 1,097 shares during the quarter. Riverhead Capital Management LLC’s holdings in Tech Data Corporation were worth $252,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TECD. Bank of Montreal Can lifted its stake in Tech Data Corporation by 1.6% in the first quarter. Bank of Montreal Can now owns 3,038 shares of the company’s stock valued at $286,000 after buying an additional 48 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in Tech Data Corporation by 2.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 11,510 shares of the company’s stock valued at $1,081,000 after buying an additional 280 shares during the period. First Trust Advisors LP lifted its stake in Tech Data Corporation by 9.1% in the first quarter. First Trust Advisors LP now owns 39,582 shares of the company’s stock valued at $3,717,000 after buying an additional 3,291 shares during the period. Comerica Bank lifted its stake in Tech Data Corporation by 2.7% in the first quarter. Comerica Bank now owns 27,431 shares of the company’s stock valued at $2,680,000 after buying an additional 709 shares during the period. Finally, Swiss National Bank lifted its stake in Tech Data Corporation by 0.7% in the first quarter. Swiss National Bank now owns 58,200 shares of the company’s stock valued at $5,465,000 after buying an additional 400 shares during the period.

In related news, CFO Alain Amsellem sold 1,648 shares of Tech Data Corporation stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $106.31, for a total transaction of $175,198.88. Following the sale, the chief financial officer now directly owns 26,479 shares in the company, valued at $2,814,982.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Several brokerages have issued reports on TECD. Citigroup Inc. reissued a “hold” rating and issued a $100.00 price target on shares of Tech Data Corporation in a research note on Friday, September 1st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price (down from $107.00) on shares of Tech Data Corporation in a research report on Monday, September 18th. Loop Capital reaffirmed a “buy” rating and set a $120.00 target price (down from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Zacks Investment Research lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Finally, BidaskClub lowered Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $107.33.

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Tech Data Corporation (NASDAQ:TECD) opened at 89.49 on Thursday. The stock’s 50 day moving average price is $97.87 and its 200-day moving average price is $97.33. Tech Data Corporation has a 12 month low of $74.07 and a 12 month high of $111.10. The firm has a market capitalization of $3.41 billion, a price-to-earnings ratio of 16.98 and a beta of 0.79.

Tech Data Corporation (NASDAQ:TECD) last released its quarterly earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.32). Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.74 billion. During the same quarter in the prior year, the firm earned $1.42 earnings per share. The company’s revenue for the quarter was up 39.8% compared to the same quarter last year. Equities analysts anticipate that Tech Data Corporation will post $8.86 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.

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

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