Globeflex Capital L P trimmed its holdings in Tech Data Corp (NASDAQ:TECD) by 2.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 23,740 shares of the company’s stock after selling 600 shares during the quarter. Tech Data comprises about 0.6% of Globeflex Capital L P’s portfolio, making the stock its 15th biggest holding. Globeflex Capital L P’s holdings in Tech Data were worth $2,326,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. C M Bidwell & Associates Ltd. bought a new position in Tech Data in the 4th quarter worth approximately $204,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Tech Data by 39.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,085 shares of the company’s stock worth $204,000 after buying an additional 595 shares in the last quarter. Creative Planning acquired a new stake in Tech Data in the fourth quarter worth approximately $205,000. CAPROCK Group Inc. acquired a new stake in Tech Data in the fourth quarter worth approximately $226,000. Finally, Advisors Preferred LLC acquired a new stake in Tech Data in the fourth quarter worth approximately $214,000. 99.27% of the stock is owned by institutional investors and hedge funds.
A number of research firms have weighed in on TECD. ValuEngine upgraded Tech Data from a “hold” rating to a “buy” rating in a research report on Wednesday, November 29th. Raymond James Financial restated a “hold” rating on shares of Tech Data in a research report on Tuesday, November 28th. BidaskClub downgraded Tech Data from a “hold” rating to a “sell” rating in a research report on Saturday, February 3rd. Northcoast Research set a $127.00 target price on Tech Data and gave the stock a “buy” rating in a research report on Wednesday. Finally, Pivotal Research set a $114.00 target price on Tech Data and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Tech Data has a consensus rating of “Buy” and an average price target of $114.43.
About Tech Data
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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