Insider Selling: Tech Data Corp (NASDAQ:TECD) CFO Sells 1,050 Shares of Stock
Tech Data Corp (NASDAQ:TECD) CFO Charles V. Dannewitz sold 1,050 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $103.60, for a total value of $108,780.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of NASDAQ TECD traded up $2.19 during trading hours on Wednesday, reaching $106.62. 371,417 shares of the stock were exchanged, compared to its average volume of 354,365. The firm has a market capitalization of $3.71 billion, a price-to-earnings ratio of 9.37, a P/E/G ratio of 2.15 and a beta of 1.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.86 and a current ratio of 1.27. Tech Data Corp has a 52 week low of $66.93 and a 52 week high of $111.08. The stock’s fifty day simple moving average is $93.56 and its 200 day simple moving average is $99.50.
Tech Data (NASDAQ:TECD) last released its quarterly earnings results on Thursday, August 29th. The company reported $2.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.33 by $0.36. Tech Data had a return on equity of 15.96% and a net margin of 0.98%. The business had revenue of $9.09 billion during the quarter, compared to analysts’ expectations of $8.71 billion. During the same period last year, the firm posted $2.01 EPS. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts predict that Tech Data Corp will post 12.46 EPS for the current fiscal year.
Several equities research analysts have issued reports on TECD shares. ValuEngine downgraded Tech Data from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 28th. BidaskClub upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a report on Friday, September 6th. Loop Capital set a $120.00 price objective on shares of Tech Data and gave the company a “buy” rating in a research report on Friday, August 30th. Zacks Investment Research upgraded shares of Tech Data from a “sell” rating to a “hold” rating and set a $95.00 target price for the company in a research note on Friday, August 23rd. Finally, Northcoast Research set a $115.00 target price on shares of Tech Data and gave the stock a “buy” rating in a report on Friday, August 30th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Tech Data currently has a consensus rating of “Hold” and a consensus target price of $107.50.
Tech Data Company Profile
Tech Data Corporation operates as an IT distribution and solutions company. The company offers endpoint portfolio solutions, including personal computer systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics. It also provides advanced portfolio solutions, such as data center technologies comprising storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.
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