Sterling Capital Management LLC purchased a new position in Tech Data Corp (NASDAQ:TECD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 15,554 shares of the company’s stock, valued at approximately $1,524,000.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Tech Data by 1.6% in the 4th quarter. BlackRock Inc. now owns 3,746,695 shares of the company’s stock worth $367,063,000 after buying an additional 59,230 shares during the last quarter. LSV Asset Management increased its holdings in shares of Tech Data by 5.9% in the 4th quarter. LSV Asset Management now owns 1,479,480 shares of the company’s stock worth $144,944,000 after buying an additional 82,640 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Tech Data in the 3rd quarter worth $76,672,000. Victory Capital Management Inc. increased its holdings in shares of Tech Data by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 745,119 shares of the company’s stock worth $73,000,000 after buying an additional 125,399 shares during the last quarter. Finally, Macquarie Group Ltd. increased its holdings in shares of Tech Data by 0.5% in the 4th quarter. Macquarie Group Ltd. now owns 657,627 shares of the company’s stock worth $64,428,000 after buying an additional 3,119 shares during the last quarter. 96.18% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on TECD. Bank of America decreased their price target on shares of Tech Data from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, March 9th. Citigroup decreased their price target on shares of Tech Data from $110.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, March 9th. Stifel Nicolaus reissued a “buy” rating and issued a $110.00 price target (down previously from $120.00) on shares of Tech Data in a report on Friday, March 9th. Pivotal Research set a $105.00 price target on shares of Tech Data and gave the stock a “buy” rating in a report on Thursday, March 8th. Finally, BidaskClub raised shares of Tech Data from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.29.
Tech Data (NASDAQ:TECD) last announced its quarterly earnings data on Thursday, March 8th. The company reported $3.50 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.53 by ($0.03). Tech Data had a net margin of 0.32% and a return on equity of 12.83%. The business had revenue of $11.09 billion during the quarter, compared to analysts’ expectations of $10.57 billion. During the same period last year, the company posted $2.45 EPS. Tech Data’s revenue for the quarter was up 49.3% on a year-over-year basis. analysts forecast that Tech Data Corp will post 10.65 earnings per share for the current fiscal year.
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Tech Data Company 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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