Tech Data Corp (TECD) Shares Bought by Bailard Inc.
Bailard Inc. raised its position in shares of Tech Data Corp (NASDAQ:TECD) by 385.2% in the fourth quarter, Holdings Channel reports. The fund owned 42,529 shares of the company’s stock after acquiring an additional 33,763 shares during the quarter. Bailard Inc.’s holdings in Tech Data were worth $4,167,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the business. LSV Asset Management raised its holdings in shares of Tech Data by 5.9% during the fourth quarter. LSV Asset Management now owns 1,479,480 shares of the company’s stock valued at $144,944,000 after acquiring an additional 82,640 shares during the last quarter. State Street Corp raised its holdings in shares of Tech Data by 3.7% during the second quarter. State Street Corp now owns 1,269,882 shares of the company’s stock valued at $128,258,000 after acquiring an additional 44,944 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Tech Data during the third quarter valued at approximately $76,672,000. Victory Capital Management Inc. raised its holdings in shares of Tech Data by 20.2% during the fourth quarter. Victory Capital Management Inc. now owns 745,119 shares of the company’s stock valued at $73,000,000 after acquiring an additional 125,399 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Tech Data by 6.9% during the third quarter. Macquarie Group Ltd. now owns 654,508 shares of the company’s stock valued at $58,153,000 after acquiring an additional 42,184 shares during the last quarter. 98.68% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on TECD shares. Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Citigroup reissued a “hold” rating and set a $110.00 target price on shares of Tech Data in a report on Tuesday, November 28th. Needham & Company LLC increased their price target on Tech Data from $102.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, November 28th. Pivotal Research set a $114.00 price target on Tech Data and gave the company a “buy” rating in a report on Tuesday, November 28th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Tech Data in a report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company’s stock. Tech Data has a consensus rating of “Buy” and a consensus price target of $112.33.
Shares of Tech Data Corp (TECD) opened at $95.18 on Wednesday. Tech Data Corp has a fifty-two week low of $81.42 and a fifty-two week high of $111.10. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.35 and a quick ratio of 0.89. The company has a market capitalization of $3,525.36, a P/E ratio of 18.13, a P/E/G ratio of 0.40 and a beta of 0.69.
Tech Data (NASDAQ:TECD) last posted its quarterly earnings results on Monday, November 27th. The company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.90 by $0.10. Tech Data had a return on equity of 11.90% and a net margin of 0.59%. The firm had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.10 billion. During the same quarter last year, the firm earned $1.44 earnings per share. The business’s revenue for the quarter was up 40.8% on a year-over-year basis. research analysts forecast that Tech Data Corp will post 9.14 EPS for the current year.
Tech Data 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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