Russell Investments Group Ltd. Lowers Holdings in Tech Data Corporation (TECD)
Russell Investments Group Ltd. decreased its stake in Tech Data Corporation (NASDAQ:TECD) by 12.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 439,028 shares of the company’s stock after selling 62,653 shares during the period. Russell Investments Group Ltd. owned 1.15% of Tech Data Corporation worth $39,008,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in TECD. SpiderRock Advisors LLC bought a new stake in Tech Data Corporation in the third quarter worth about $106,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Tech Data Corporation by 15.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,490 shares of the company’s stock worth $150,000 after acquiring an additional 195 shares during the period. Parametrica Management Ltd bought a new stake in Tech Data Corporation in the third quarter worth about $217,000. Riverhead Capital Management LLC raised its position in Tech Data Corporation by 78.4% in the second quarter. Riverhead Capital Management LLC now owns 2,497 shares of the company’s stock worth $252,000 after acquiring an additional 1,097 shares during the period. Finally, Oakbrook Investments LLC raised its position in Tech Data Corporation by 3.0% in the second quarter. Oakbrook Investments LLC now owns 2,575 shares of the company’s stock worth $260,000 after acquiring an additional 75 shares during the period.
Tech Data Corporation (NASDAQ TECD) traded up $1.98 during trading on Tuesday, reaching $92.86. 317,500 shares of the company were exchanged, compared to its average volume of 437,288. The company has a quick ratio of 0.94, a current ratio of 1.34 and a debt-to-equity ratio of 0.66. The company has a market cap of $3,540.00, a price-to-earnings ratio of 12.12, a PEG ratio of 0.47 and a beta of 0.77. Tech Data Corporation has a twelve month low of $81.42 and a twelve month high of $111.10.
Tech Data Corporation (NASDAQ:TECD) last posted its earnings results on Thursday, August 31st. The company reported $1.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.06 by ($0.32). The firm had revenue of $8.88 billion for the quarter, compared to the consensus estimate of $8.74 billion. Tech Data Corporation had a return on equity of 11.60% and a net margin of 0.63%. The business’s revenue was up 39.8% on a year-over-year basis. During the same period last year, the company posted $1.42 EPS. research analysts anticipate that Tech Data Corporation will post 9.08 earnings per share for the current year.
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TECD has been the topic of several research reports. Northcoast Research raised shares of Tech Data Corporation from a “neutral” rating to a “buy” rating in a research report on Tuesday, September 5th. Zacks Investment Research lowered shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Citigroup Inc. reissued a “hold” rating and issued a $100.00 price target on shares of Tech Data Corporation in a research report on Friday, September 1st. Stifel Nicolaus lowered 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 research report on Friday, September 1st. Finally, Loop Capital reissued a “buy” rating and issued a $120.00 price target (down previously from $130.00) on shares of Tech Data Corporation in a research report on Friday, September 1st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $109.33.
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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