Tech Data Corp (TECD) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in Tech Data Corp (NASDAQ:TECD) by 59.8% in the 4th quarter, HoldingsChannel reports. The fund owned 122,998 shares of the company’s stock after selling 183,016 shares during the period. Millennium Management LLC’s holdings in Tech Data were worth $12,050,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Meadow Creek Investment Management LLC raised its position in shares of Tech Data by 25.7% in the 4th quarter. Meadow Creek Investment Management LLC now owns 4,828 shares of the company’s stock worth $473,000 after acquiring an additional 986 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Tech Data by 9.9% in the 4th quarter. TIAA CREF Investment Management LLC now owns 239,246 shares of the company’s stock worth $23,439,000 after acquiring an additional 21,604 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Tech Data by 3.1% in the 4th quarter. Teachers Advisors LLC now owns 323,938 shares of the company’s stock worth $31,736,000 after acquiring an additional 9,821 shares in the last quarter. Paloma Partners Management Co bought a new position in shares of Tech Data in the 4th quarter worth about $769,000. Finally, HBK Investments L P raised its position in shares of Tech Data by 1,221.6% in the 4th quarter. HBK Investments L P now owns 38,300 shares of the company’s stock worth $3,752,000 after acquiring an additional 35,402 shares in the last quarter. 96.18% of the stock is owned by hedge funds and other institutional investors.

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Several research firms have recently weighed in on TECD. ValuEngine lowered Tech Data from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Bank of America decreased their target price on Tech Data from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, March 9th. Citigroup decreased their target price on Tech Data from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, March 9th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $110.00 target price (down from $120.00) on shares of Tech Data in a research report on Friday, March 9th. Finally, Pivotal Research set a $105.00 target price on Tech Data and gave the company a “buy” rating in a research report on Thursday, March 8th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Tech Data currently has an average rating of “Buy” and a consensus price target of $110.29.

Shares of Tech Data stock opened at $77.58 on Friday. Tech Data Corp has a one year low of $76.89 and a one year high of $111.10. The stock has a market capitalization of $3,031.76, a P/E ratio of 8.52, a PEG ratio of 0.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.26 and a quick ratio of 0.88.

Tech Data (NASDAQ:TECD) last issued its earnings results on Thursday, March 8th. The company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.53 by ($0.03). Tech Data had a net margin of 0.32% and a return on equity of 12.83%. The firm had revenue of $11.09 billion during the quarter, compared to the consensus estimate of $10.57 billion. During the same period in the previous year, the firm earned $2.45 earnings per share. The business’s quarterly revenue was up 49.3% on a year-over-year basis. analysts expect that Tech Data Corp will post 10.65 EPS 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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Institutional Ownership by Quarter for Tech Data (NASDAQ:TECD)

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