Tech Data (TECD) Downgraded by BidaskClub to “Hold”

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BidaskClub downgraded shares of Tech Data (NASDAQ:TECD) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

A number of other research analysts have also recently issued reports on TECD. Zacks Investment Research reissued a hold rating and issued a $82.00 target price on shares of Tech Data in a research note on Friday, November 16th. ValuEngine raised Tech Data from a sell rating to a hold rating in a research note on Friday, November 30th. Needham & Company LLC boosted their target price on Tech Data to $110.00 and gave the company a buy rating in a research note on Friday, November 30th. Finally, TheStreet raised Tech Data from a c+ rating to a b- rating in a research note on Thursday, December 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $97.60.

NASDAQ:TECD opened at $101.94 on Tuesday. Tech Data has a 1 year low of $66.93 and a 1 year high of $108.29. The company has a quick ratio of 0.86, a current ratio of 1.24 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 3.95 and a beta of 0.96.

Tech Data (NASDAQ:TECD) last posted its earnings results on Thursday, March 7th. The company reported $4.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.52. Tech Data had a return on equity of 15.17% and a net margin of 0.91%. The firm had revenue of $10.47 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the firm earned $3.50 earnings per share. The company’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts anticipate that Tech Data will post 11.72 earnings per share for the current year.

In other news, VP Beth E. Simonetti sold 592 shares of the business’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $91.98, for a total value of $54,452.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David R. Vetter sold 6,000 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $98.12, for a total value of $588,720.00. Following the completion of the sale, the vice president now owns 36,570 shares in the company, valued at $3,588,248.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 22,725 shares of company stock worth $2,167,307. Corporate insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TECD. Norges Bank bought a new stake in Tech Data during the fourth quarter worth about $35,317,000. Prudential Financial Inc. raised its holdings in Tech Data by 89.4% during the third quarter. Prudential Financial Inc. now owns 655,099 shares of the company’s stock worth $46,885,000 after acquiring an additional 309,142 shares in the last quarter. Macquarie Group Ltd. raised its holdings in Tech Data by 23.2% during the third quarter. Macquarie Group Ltd. now owns 909,739 shares of the company’s stock worth $65,110,000 after acquiring an additional 171,231 shares in the last quarter. BlackRock Inc. raised its holdings in Tech Data by 3.8% during the third quarter. BlackRock Inc. now owns 4,379,141 shares of the company’s stock worth $313,416,000 after acquiring an additional 159,706 shares in the last quarter. Finally, Matarin Capital Management LLC bought a new stake in Tech Data during the third quarter worth about $10,801,000. Institutional investors and hedge funds own 97.09% of the company’s stock.

About Tech Data

Tech Data Corporation engages in the wholesale distribution of technology products. It offers endpoint portfolio solutions, including PC systems, mobile phones and accessories, printers, peripherals, supplies, endpoint technology software, and consumer electronics; and advanced portfolio solutions, such as storage, networking, servers, advanced technology software, and converged and hyper-converged infrastructure, as well as specialized solutions.

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