Icon Advisers Inc. Co. purchased a new stake in Tech Data Corporation (NASDAQ:TECD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 13,300 shares of the company’s stock, valued at approximately $1,182,000.
Other large investors have also made changes to their positions in the company. Palisade Capital Management LLC NJ bought a new stake in Tech Data Corporation in the third quarter worth about $888,000. Prudential Financial Inc. lifted its stake in Tech Data Corporation by 30.2% in the second quarter. Prudential Financial Inc. now owns 381,747 shares of the company’s stock worth $38,557,000 after purchasing an additional 88,598 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Tech Data Corporation by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 785,299 shares of the company’s stock worth $79,316,000 after purchasing an additional 214,058 shares during the last quarter. Geneva Advisors LLC bought a new stake in Tech Data Corporation in the second quarter worth about $606,000. Finally, State of Tennessee Treasury Department lifted its stake in Tech Data Corporation by 40.8% in the second quarter. State of Tennessee Treasury Department now owns 98,593 shares of the company’s stock worth $9,958,000 after purchasing an additional 28,593 shares during the last quarter.
Several brokerages have issued reports on TECD. Zacks Investment Research raised shares of Tech Data Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. BidaskClub downgraded shares of Tech Data Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. ValuEngine raised shares of Tech Data Corporation from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Loop Capital initiated coverage on shares of Tech Data Corporation in a research report on Thursday, August 24th. They set a “buy” rating and a $130.00 target price on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price (down from $107.00) on shares of Tech Data Corporation in a research report on Monday, September 18th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $109.33.
Tech Data Corporation (NASDAQ:TECD) opened at $92.43 on Friday. The stock has a market cap of $3,498.66, a P/E ratio of 12.23, a P/E/G ratio of 0.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.34. Tech Data Corporation has a 1-year low of $81.42 and a 1-year high of $111.10.
Tech Data Corporation (NASDAQ:TECD) last issued its quarterly earnings data on Thursday, August 31st. The company reported $1.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.06 by ($0.32). The business had revenue of $8.88 billion for the quarter, compared to analysts’ expectations of $8.74 billion. Tech Data Corporation had a net margin of 0.63% and a return on equity of 11.60%. The business’s quarterly revenue was up 39.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. equities analysts predict that Tech Data Corporation will post 9.05 EPS for the current year.
Tech Data Corporation 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.