Candriam Luxembourg S.C.A. purchased a new stake in shares of Tech Data Corp (NASDAQ:TECD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 30,877 shares of the company’s stock, valued at approximately $4,434,000.
Several other institutional investors and hedge funds have also recently modified their holdings of TECD. Syquant Capital Sas acquired a new position in shares of Tech Data during the fourth quarter valued at $14,756,000. Vertex One Asset Management Inc. acquired a new position in Tech Data in the fourth quarter valued at about $14,363,000. River Road Asset Management LLC lifted its stake in Tech Data by 28.7% in the third quarter. River Road Asset Management LLC now owns 433,165 shares of the company’s stock valued at $45,153,000 after buying an additional 96,590 shares during the period. Millennium Management LLC lifted its stake in Tech Data by 171.0% in the third quarter. Millennium Management LLC now owns 98,461 shares of the company’s stock valued at $10,263,000 after buying an additional 62,127 shares during the period. Finally, State of New Jersey Common Pension Fund D acquired a new position in Tech Data in the fourth quarter valued at about $4,214,000.
Several equities analysts have weighed in on the company. BidaskClub lowered Tech Data from a “sell” rating to a “strong sell” rating in a research note on Thursday. ValuEngine lowered Tech Data from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Finally, Northcoast Research lowered Tech Data from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $113.00.
NASDAQ:TECD opened at $144.05 on Friday. Tech Data Corp has a 1-year low of $80.20 and a 1-year high of $151.47. The business’s 50-day moving average price is $144.01 and its two-hundred day moving average price is $121.91. The company has a current ratio of 1.26, a quick ratio of 0.87 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $5.10 billion, a price-to-earnings ratio of 15.52 and a beta of 1.15.
Tech Data (NASDAQ:TECD) last released its earnings results on Tuesday, November 26th. The company reported $3.02 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.03. Tech Data had a return on equity of 15.52% and a net margin of 0.92%. The firm had revenue of $9.12 billion for the quarter, compared to analyst estimates of $9.37 billion. During the same quarter in the prior year, the firm posted $3.02 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that Tech Data Corp will post 12.53 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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