Tech Data Corp (NASDAQ:TECD) CAO Michael Rabinovitch sold 349 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $104.85, for a total transaction of $36,592.65. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
TECD traded up $1.50 on Thursday, reaching $105.94. The company’s stock had a trading volume of 26,540 shares, compared to its average volume of 276,697. The stock has a 50 day moving average of $98.93 and a two-hundred day moving average of $99.69. The company has a quick ratio of 0.86, a current ratio of 1.27 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.70 billion, a price-to-earnings ratio of 9.31, a P/E/G ratio of 2.15 and a beta of 1.12. Tech Data Corp has a fifty-two week low of $66.93 and a fifty-two week high of $111.08.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, August 29th. The company reported $2.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.36. The firm had revenue of $9.09 billion during the quarter, compared to the consensus estimate of $8.71 billion. Tech Data had a return on equity of 15.96% and a net margin of 0.98%. The firm’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.01 earnings per share. As a group, analysts anticipate that Tech Data Corp will post 12.46 earnings per share for the current fiscal year.
A number of analysts recently weighed in on TECD shares. BidaskClub upgraded shares of Tech Data from a “strong sell” rating to a “sell” rating in a research note on Friday, September 6th. Northcoast Research set a $115.00 price target on Tech Data and gave the company a “buy” rating in a report on Friday, August 30th. ValuEngine downgraded Tech Data from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Loop Capital upped their price target on Tech Data to $130.00 and gave the company a “buy” rating in a report on Thursday, September 12th. Finally, Zacks Investment Research raised Tech Data from a “sell” rating to a “hold” rating and set a $95.00 price target for the company in a report on Friday, August 23rd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Tech Data has an average rating of “Hold” and a consensus price target of $109.17.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. State of Alaska Department of Revenue acquired a new position in Tech Data in the third quarter valued at approximately $660,000. Magnetar Financial LLC acquired a new stake in shares of Tech Data in the second quarter valued at approximately $262,000. One Wealth Advisors LLC acquired a new stake in shares of Tech Data in the second quarter valued at approximately $230,000. Verition Fund Management LLC acquired a new stake in shares of Tech Data in the second quarter valued at approximately $397,000. Finally, Zacks Investment Management boosted its holdings in shares of Tech Data by 2.7% in the second quarter. Zacks Investment Management now owns 24,687 shares of the company’s stock valued at $2,582,000 after acquiring an additional 644 shares during the period. 97.45% of the stock is owned by hedge funds and other institutional investors.
About Tech Data
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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