Short Interest in Tech Data Corp (NASDAQ:TECD) Grows By 136.6%

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Tech Data Corp (NASDAQ:TECD) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totalling 1,779,200 shares, a growth of 136.6% from the February 27th total of 752,000 shares. Based on an average daily volume of 1,118,300 shares, the short-interest ratio is currently 1.6 days. Currently, 5.1% of the shares of the company are sold short.

A number of equities research analysts recently commented on TECD shares. ValuEngine downgraded Tech Data from a “hold” rating to a “sell” rating in a report on Friday, January 3rd. Northcoast Research upgraded Tech Data from a “neutral” rating to a “buy” rating and set a $145.00 target price on the stock in a research report on Wednesday, March 18th. Finally, BidaskClub upgraded shares of Tech Data from a “hold” rating to a “buy” rating in a report on Wednesday, March 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $119.00.

Several hedge funds have recently modified their holdings of TECD. Syquant Capital Sas acquired a new position in shares of Tech Data during the 4th quarter worth approximately $14,756,000. Maverick Capital Ltd. acquired a new position in Tech Data during the third quarter worth $923,000. Millennium Management LLC raised its position in Tech Data by 171.0% during the third quarter. Millennium Management LLC now owns 98,461 shares of the company’s stock worth $10,263,000 after acquiring an additional 62,127 shares during the period. Jefferies Group LLC raised its position in Tech Data by 295.4% during the fourth quarter. Jefferies Group LLC now owns 22,813 shares of the company’s stock worth $3,276,000 after acquiring an additional 17,044 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Tech Data by 0.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 26,960 shares of the company’s stock valued at $3,871,000 after purchasing an additional 80 shares in the last quarter. 95.26% of the stock is owned by institutional investors and hedge funds.

NASDAQ TECD opened at $133.90 on Friday. The company has a market capitalization of $4.68 billion, a PE ratio of 12.97 and a beta of 1.08. The company has a fifty day moving average of $136.23 and a 200 day moving average of $130.67. Tech Data has a 1 year low of $80.20 and a 1 year high of $151.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.23 and a quick ratio of 0.87.

Tech Data (NASDAQ:TECD) last announced its quarterly earnings results on Thursday, March 5th. The company reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.82 by $0.06. The company had revenue of $10.38 billion for the quarter, compared to the consensus estimate of $10.38 billion. Tech Data had a return on equity of 15.43% and a net margin of 1.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm earned $4.55 EPS. Research analysts expect that Tech Data will post 12.73 earnings per share for the current year.

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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