Tech Data Corp (NASDAQ:TECD) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 981,400 shares, a decrease of 28.9% from the September 30th total of 1,380,000 shares. Currently, 2.8% of the company’s stock are short sold. Based on an average daily volume of 358,200 shares, the short-interest ratio is presently 2.7 days.

TECD has been the subject of a number of recent research reports. ValuEngine upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 15th. Loop Capital increased their price objective on shares of Tech Data to $150.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup set a $100.00 price objective on shares of Tech Data and gave the stock a “hold” rating in a research note 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 price objective for the company in a research note on Friday, August 23rd. Finally, BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $112.50.

In other news, CFO Charles V. Dannewitz sold 1,050 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $103.60, for a total transaction of $108,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Beth E. Simonetti sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $104.78, for a total transaction of $157,170.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,899 shares of company stock valued at $1,352,943. Company insiders own 1.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Stevens Capital Management LP acquired a new stake in Tech Data in the 2nd quarter valued at about $335,000. Balasa Dinverno & Foltz LLC lifted its stake in Tech Data by 16.4% in the 2nd quarter. Balasa Dinverno & Foltz LLC now owns 5,579 shares of the company’s stock valued at $584,000 after purchasing an additional 785 shares during the last quarter. Swiss National Bank lifted its stake in Tech Data by 4.7% in the 2nd quarter. Swiss National Bank now owns 69,500 shares of the company’s stock valued at $7,270,000 after purchasing an additional 3,100 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Tech Data by 13.0% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 135,733 shares of the company’s stock valued at $14,198,000 after purchasing an additional 15,563 shares during the last quarter. Finally, Jefferies Group LLC lifted its stake in Tech Data by 15.4% in the 2nd quarter. Jefferies Group LLC now owns 2,601 shares of the company’s stock valued at $272,000 after purchasing an additional 348 shares during the last quarter.

NASDAQ:TECD traded down $0.32 during mid-day trading on Friday, hitting $130.23. The stock had a trading volume of 18,604 shares, compared to its average volume of 364,999. Tech Data has a twelve month low of $70.41 and a twelve month high of $131.70. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 11.44, a PEG ratio of 2.59 and a beta of 1.15. The company’s 50 day simple moving average is $116.43 and its 200 day simple moving average is $102.67. 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 (NASDAQ:TECD) last issued its earnings results on Thursday, August 29th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.33 by $0.36. Tech Data had a net margin of 0.98% and a return on equity of 15.96%. The business had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the business posted $2.01 EPS. Tech Data’s revenue was up 2.3% on a year-over-year basis. As a group, equities analysts forecast that Tech Data will post 12.5 earnings per share for the current year.

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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